For Logset 2020 was challenging in many ways. After a relatively strong start, the market collapsed temporarily due to the global pandemic and the uncertainty it caused. Source: Timberbiz
The company said it reacted quickly to respond to the new market situation and thanks to good planning and fast operations, it managed to turn a difficult year into a year of development.
“In retrospect, I can say that the introduction of scenario models at an early stage was worthwhile. The company’s result last year is a tremendous achievement, and I am proud of the staff’s investments. Thanks to its size and good cooperation, Logset is able to respond agilely to the rapid market changes it faces,” CEO Tommi Ekman said.
During the summer of 2020, demand for forest machines started to grow and Logset’s fourth quarter was strong. The company said that now the market situation looks good, although the pandemic continues to hamper business travel.
In 2020, Logset began work on improving the quality of work. The work is ongoing and during 2021 efforts will be increased to create a high-quality culture. Other important priorities are customer focus, continuous innovation and product development.
A new Board of Directors was elected at the Annual General Meeting of the company’s Board of Directors on 16 April.
Board member Mikko Lehikoinen was elected Chairman of the Board. The company’s largest owner, Ilkka Brotherus, will continue as a member of the board. Kari Mikkilä and Esa Rantala started as new members.
Mr Mikkilä is Logset’s current purchasing director but will resign when a new purchasing director is found to replace him. Rantala has served as Logset’s President and CEO from 2012 to 2014.