On May 30th, the new sandwich panel factory of Tenax Panel was inaugurated! This is a significant step in our company’s development, as it will allow us to double the production volume necessary for export markets and produce 1 million m^2 of various types of sandwich panels already this year.
13 million euros have been invested in the construction and equipment of the new factory, of which a part is our own investment, and a part is co-financing from the European Regional Development Fund (ERDF), as well as funding provided by AS “Swedbank”. The construction process of the factory lasted two years. Currently, 75% of the company’s produced goods are exported to Northern European markets, where they are in demand, thanks to the sustainability criteria introduced in the production process. The new production capacities will allow us to enter new export markets and increase the export share in the near future.
“The inauguration of the new factory is significant not only for SIA “Tenax Panel” as a local, national capital company but also for the development of the region and the overall economy of the country. Export-capable and efficient companies that simultaneously think about new, innovative products are the driving force and foundation of Latvia’s economy and well-being. Therefore, I am pleased together with the company’s employees and management for the opportunity to open this factory and significantly increase production volumes and diversity,” commented the Minister of Economics, Viktors Valainis, on the opening of the new factory.
The new factory is located next to the existing one in Dobele and will provide the opportunity to conduct production in several work shifts, as well as to develop a new product offering. The new factory has also created 30 new jobs in the region. In the opened factory, alongside the usual sandwich panels, a new type of product will be manufactured – renovation panels, intended for the renovation of existing buildings, and eco panels, which are made using recycled materials.
“Our goal is to be a change-maker in the construction industry, not only by producing more and more efficiently but also by working more sustainably and creating new environmentally friendly products. I believe that this improves the overall quality of Latvia’s construction environment and is a decisive factor for our cooperation partners in the northern countries – Finland, Sweden, Norway, Iceland, Denmark, Lithuania, and Estonia,” emphasizes Egils Novickis, director of SIA “Tenax Panel”.
Our products in the local and export market are in demand, thanks to 3 main reasons:
- The sandwich panels themselves are easily adaptable to individual needs and project requirements, with various thermal insulation interlayers, their thicknesses, panel widths, and lengths, which ensures high product functionality, short production and delivery times. In the future, they will be produced with new types of profiling, which are not yet available in the Baltic market.
- Support from the engineering team, which Tenax Panel provides to partners during design, construction, and assembly.
- Product quality and sustainability, as evidenced by the product environmental declarations.
