Coillte, Ireland's largest commercial forestry and land solutions company, has approved an investment of 44.4 million euros to improve and upgrade MEDITE SMARTPLY's SMARTPLY OSB plant in County Waterford.

The investment will upgrade the drying equipment that has been in operation since 1996 and will provide an improved drying/energy/screen system to increase equipment production capacity.

The announcement will help MEDITE SMARTPLY strive to meet the strong demand for its products. As a result of this project, the increase in output will further increase product availability and enable the company to develop new market areas and opportunities as part of the company's strategy and growth plan.

"We are pleased to announce the latest investment in our SMARTPLY plant, which will bring gratifying economic growth to the region and enable us to provide first-class wood products to more customers," commented Pat Beardmore, Chief Operating Officer of MEDITE. .

"This is our second major investment in SMARTPLY in the past five years. As early as 2016, we invested 59 million euros. This is a unique product that is sustainably produced and reaches the highest level of quality. We are very happy It can improve its availability to an international customer base."

The first phase of the project is at an advanced stage and is expected to be completed in the next few weeks. The project will be completed in the second quarter of 2022.

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