Hardboard production at the AS Bolderaja mill in Latvia has ceased permanently and the plant has been put up for sale.
Production at the mill was suspended last November and the closure decision was taken in the light of continuing high heavy oil prices, according to Tony Lord of Lord Forest Products, a shareholder and director at AS Bolderaja.
‘The recent rise in hardboard market prices has not been sufficient to justify continued spending on the mill,’ said Mr Lord.
An eastern European party has expressed an interest in buying all the plant.
The UK has consumed around 4.5 million m² of the mill’s 7 million m² annual hardboard capacity.
Mr Lord said the mill would continue with chipboard production and a five-year heavy investment plan has been agreed to improve board quality and increase output.
