Lunawood investing strongly in the future
Demand for the chemical-free and sustainable Lunawood Thermowood is growing, and Lunawood is preparing for it by investing in production capacity both in Kaskinen and in Iisalmi.
Lunawood is investing in one new thermo treatment kiln at Lunawood Kaskinen factory in the beginning of 2021. This fourth kiln will increase the production capacity of the Kaskinen mill by about 35 percent. Construction work on the site has already begun and the production of this new kiln will start in March 2021. For Kaskinen, the investment means also new jobs. Four new employees for production work, one new employee for a contractor partner and a Production Manager will be hired. The recruitment will begin in November.
“We manufacture sustainable, totally chemical-free and unique Thermowood solutions for outdoor and indoor use. Architects, designers, and professional builders have fallen in love with Thermowood, thank to which the demand for Thermowood is growing strongly. To meet this increasing demand, we will invest one new thermo treatment kiln at the Kaskinen mill”, says Arto Halonen, CEO of Oy Lunawood Ltd.
At Lunawood Iisalmi factory a fire broke out in September 2020 and two thermo treatment kilns were damaged. During the spring of 2021, Iisalmi’s production will be restored with replacement investments. One of the damaged kilns will be repaired and it will start production at the turn of the year. The other kiln is completely replaced with a new one, and this kiln will be in production use from the beginning of June 2021.
Lunawood investments are also investments for the future and the owner of Lunawood, Accent Equity, is also convinced of the growth story. “After one year with Lunawood it is impressive to see how all areas of the organization continuously work to further develop the company along multiple dimensions and especially in pushing for even more sustainable solutions, not only on the product side put also as a company in whole. I am convinced as more and more people learn about the environmental benefits of Lunawood’s product, in combination with the rest of the superior product properties, Lunawood is only at the beginning of its growth journey.” says Daniel Winberg, Chairman of Lunawood Group and Partner at Accent Equity Partners AB.
The total value of the investments in Kaskinen and Iisalmi will be approximately six million euros.