Business news

BREST, 27 April (BelTA) – In January-March 2018 OAO Ivatsevichdrev increased export by 40% in comparison with the same period of last year, BelTA learned from Ivatsevichdrev Director General Alexander Ilnitsky.

Diversifying target markets is a priority task for the Belarusian company. At present the company exports 70% of its output. In Q1 2018 the company exported $10.6 million worth of merchandise, 140.5% as against Q1 2017. The company was able to penetrate two new target markets as it delivered chipboards to Serbia and furniture to the USA.

“We are primarily focused on increasing the output and shipments of furniture. It is rather a new kind of merchandise for us. We already export furniture to Latvia, Kazakhstan, Russia, and the USA. We focus on making end products instead of intermediate ones in order to keep most of the added value in Belarus,” stressed Alexander Ilnitsky. He added that the Belarusian company is also working to develop its proprietary retail chain.

The factory exports its products to a total of 15 countries, including Germany, Hungary, Czechia, Croatia, Lithuania, Azerbaijan, and Uzbekistan. Apart from furniture Ivatsevichdrev exports flake boards, laminated boards, and sawn timber. In 2017 Ivatsevichdrev exported nearly $35 million worth of merchandise.

The history of the Belarusian company began when a sawmill was commissioned in the town of Ivatsevichi, Brest Oblast in 1922. At present the public joint-stock company (OAO) Ivatsevichdrev is one of Belarus’ largest woodworking companies.