The Latvian timber building structures producer IKTK has invested about two million euro in large-sized glued laminated timber structures production plant, the company’s representatives told LETA.
The company has built a new production plant and acquired high precision timber processing equipment. The modern technologies, including CNC type machines for complicated precision processing of timber components, have already been tested and put into operation.
"IKTK has regained its position as the Baltic industry leader thanks to the computer-managed complex for high precision processing of large-scale timber components," said the company’s chairman of the board, Māris Peilāns.
IKTK manufactures large-scale glued laminated (glulam) timber beams and cross-laminated timber (CLT) structures that are further used in the construction of different objects. The plant also produces building components according to custom contracts.
Glued laminated timber structures manufactured by IKTK are used in exclusive bridges, buildings and constructions in Latvia, Lithuania, Norway and Sweden. The company continues to develop its market.
IKTK reportedly opened its research and production centre in 2015 investing more than 5 mln euro, including support of the EU structural funds. Total investment up to date is more than 7 mln euro mostly from the private sources.
In 2018 IKTK reported a turnover of 1,187 mln euros while its losses amounted to 65 760 euro.
IKTK was founded in 2011, and its owners include SIA Ceļu būvniecības sabiedrība Igate (99%) and SIA Meža un koksnes produktu pētniecības un attīstības institūts (the Wood and Timber Products Research and Development Institute) or MeKA (1%). IKTK is an abbreviation from the Latvian phrase ‘Inovācijas koka tiltos un konstrukcijās’ (Innovations in timber bridges and structures).