A new company has started in the wake of Latvian sawmiller Nelss’s descent into administration.
Lenders have opted to keep the Nelss mill running, operated by a new company AKZ, with the name based on the sawmill’s location in Aizkraukle.
The UK agency formerly handled by Nelss UK is now run by new Tunbridge Wells-based AKZ Timber Ltd, which is expecting its first shipment from the mill in the next couple of weeks.
“Customers have been very supportive and we have been welcomed back to the market,” said Kevin Hayes of AKZ Timber Ltd. “We have only been out of the market for two months in terms of supplying customers.”
Nelss, which was Latvia’s largest timber business, had its assets frozen in March in a disagreement with lenders over borrowings. Shipments to the UK were then halted and Nelss subsequently went into administration.
