LV
LV

ZAZA TIMBER attracts 3,8 million Euros bank financing

17.01.2025.

AS Regionalā investīciju banka (RIB) has issued 3.8 million euros to the ZAZA TIMBER group of companies. The financing is intended for the purchase of new production equipment (1.2 million euros), refinancing of financial liabilities, as well as providing additional working capital.

ZAZA TIMBER began its operations in 2015, establishing a glued laminated timber structure manufacturing plant in Latvia which is still being expanded and modernized. In parallel it launched timber structural design and assembly companies. Now ZAZA TIMBER is credited with services for transport, pedestrian and ski bridges, industrial, office and residential buildings, schools, churches, sports facilities, hotels, concert halls, electric car charging stations both in Latvia and in a number of European countries (Denmark, Iceland, Sweden, Norway, Lithuania, the Netherlands, Portugal, Andorra, Spain, Germany), as well as in other countries of the world (USA, South Korea, Qatar, Morocco, Australia.

With the financing granted by RIB, ZAZA TIMBER will be able to continue investing in production capacities and provide various types of guarantees and warrants widely demanded in the construction industry.

“The world of wooden construction is experiencing a renaissance – structural design software, production and construction technologies today allow us to build large, safe and beautiful buildings from wood. Seeing the growing demand, we continue to develop our competencies and modernize the factory in order to become more competitive and be able to work on even larger, more complex and also more time-consuming projects. A financial cushion is an advantage, because in the long term it makes our company a stable and convenient cooperation partner for customers and suppliers,” comments Māris Peilāns, Chairman of the Board of ZAZA TIMBER Group of Companies.

Māris Peilāns, ZAZA TIMBER Production valdes priekšsēdētājs.

Māris Peilāns, ZAZA TIMBER grupas uzņēmumu valdes priekšsēdētājs.

 

“Every time we review the allocation of financing to domestic companies, it is a pleasure and satisfaction that we can be proud of the products manufactured in Latvia, which have gained popularity and are competitive not only in other European countries, but have also reached markets outside Europe. This year, RIB will continue to be active in lending to medium and large Latvian companies in the sectors it has set as priorities – forestry and woodworking, metalworking and food production, pharmaceuticals and medicine, as well as provide an individual approach to manufacturing companies with export potential,” says Aleksandrs Jakovļevs, Chairman of the Board of RIB.