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A year ago, Stora Enso decided to close Näpi Saweveski, one of the largest employers in the region. However, the closure was painless and did not cause major social problems in the region.
Erkki Ehandi, who worked as a senior manager in the timber industry for many years and now provides consulting services to various companies, said the mass layoffs occurred almost unnoticed because Lääne-Virumaa’s economy is diversified. As a result, people who lost their jobs quickly found new applications.
In the “Virumaatne entrepreus” program, Erkki Ehand talked about several projects that have been initiated in Lääne-Virumaa, which, once realized, will provide additional impetus for the development of entrepreneurship in the county. These include, for example, new investments planned in the center of Rääre with an investment of more than 50 million euros, the creation of new industrial parks in various municipalities, the development of Kunda as a resort and port city, and investments in the defense industry in places such as Tapa.
Closure of large industries is painless
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We are making this investment because we are in a growth phase and the entire wood industry will also grow in the coming years, Puidukoja CEO Eveli Opmann said at the “Virumatāne Entrepreneurship” project.
Stora Enso Estonia’s financial report last year showed that sales revenue in 2023 decreased compared with the previous year, but net profit increased, mainly from dividends from subsidiaries and other business income.
Production will increase by half
Puidukoda, a planed timber producer in Viljandi County, has acquired the Napi sawmill near Rakvere, which was closed by Stora Enso this year. The new owner hopes to increase production by half through investments.
Finnish forestry group Stora Enso has announced to the stock exchange that it will close its Näpi sawmill in Lääne-Virumaa, which will result in the loss of nearly 100 jobs.
The reigning Estonian basketball champions and data services provider Infopank have announced that they have extended their partnership agreement until the 2024/2025 season.
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