INVESTMENTS OF FINNISH FOREST INDUSTRY INCREASED 22% IN 2016
Investments of Finnish forest industry increased by 22 percent last year, reaching the amount of EUR 948 million, tells the investments inquiry carried out by the Confederation of Finnish Industries EK. For this year the forecast is slightly smaller, EUR 932 million.
The decrease possibly is due to the fact that the largest industry investment in Finland ever, Metsä Group’s bioproduct mill in Äänekoski, will be finalized and taken into use during this year. In Finnish industries, small companies with less than 250 employees have increased their investment more than the large ones, 28 percent from 2015 to 2016 and, according to the estimate, close to 50 percent this year. On the other hand, investments of large enterprises decreased during both years, first by 2.7 and then by 7.2 percent. Small companies are estimated to invest EUR 1,979 million this year, while large companies are estimated to invest EUR 2,311 million. Also the development of finances for research and development were asked. As to forest industry, they are in slight increase of 1.5–2 percent annually, while the average of whole industry is decreasing by ten percent annually. However, the R&D finances of forest industry, EUR 96 million this year, are very small when compared to, for example, chemical industry, EUR 429 million. On the other hand, compared to foreign forest industries, Finnish forest industry invests more than them in R&D. The investment rate of Finnish industries is among the lowest in the European Union, according to estimate, 13 percent this year. However, if R&D investments are taken into consideration as well, investment rate is close to western European average, 22 percent.
For further information please contact Mr Hannes Mantyranta, Communication: FINNISH FOREST Industry Federation Snellmaninkatu 13 FI-00171 HELSINKI / Finland Ph. +358 (0) 9 1326600 E-mail: email@example.com E-mail: firstname.lastname@example.org