LATVIA  – In early July, SIA Kronospan Riga acquired KS Terminal, the fourth-largest cargo terminal at the Port of Riga.

This move strengthens Northern European operations of Kronospan and creates new growth opportunities.

By late July, the Kronospan cargo ship Spanaco Adventure arrived at KS Terminal, transporting 40,000 cubic meters of Latvian particleboard to the US. This begins regular shipments to Baltimore and Houston, enhancing Kronospan Riga’s presence in the US market.

Ansis Zeltiņš, CEO of the Freeport of Riga, stated, “Kronospan’s entry stabilizes cargo and improves prospects for KS Terminal and the port.”

Vivita Vāvere-Ozola from Kronospan noted that the acquisition aims to streamline exports and attract new clients, with plans to modernize cargo handling.

KS Terminal handled 670,000 tonnes of cargo in the first half of 2024, making up 7.6% of Riga Port’s turnover. Timber is a major cargo type, representing a third of the volume.

Kronospan, based in Austria is the largest global wooden panel manufacturer and currently operates 41 facilities worldwide.