UstyeLes completed the second phase of investment project at its plywood production mill in the city of Sokol in the Vologda region of Russia. According to the announcement, with the new production line the company doubled production and expects to triple it by summer 2017 reaching 50 thousand m3 output. The investment accounted RUB 470 million (around USD 8.3 million).
The company started the project execution in 2012. In the first phase (2013-2015) it created a logging unit with harvesting of around 152 thousand m3 of timber per year as well as established the plywood production facility with the production capacity of 18 thousand m3.
The company specializes in the plywood production in Russia and operate a mill in the Vologda region.