Blog
Coop Pank client Velma Mööbel to produce parcel terminals for USA
Business ・ 07.10.2019
Coop Pank continues introducing its clients. Every client, be it an individual or a company, teaches us something new and interesting.
Estonian furniture manufacturer Velma Mööbel is one of our clients whose activities inspire us every day.
In Vahi industrial park outside of Tartu, the new factory of Velma Mööbel placed its cornerstone. Among other things, the factory will produce Cleveron parcel terminals for one of the largest retail chains in the USA. In addition to private investors, the construction of the factory building was financed by Coop Pank.
When was Velma Mööbel founded, who is the owner and what are its main areas of activity?
Velma Mööbel was founded in 1997. The company manufactures custom furniture solutions for private and business customers. The products are sold in Estonia, the EU and the USA. The best-known clients of Velma are Cleveron, Selver and Kodumaja. Velma Mööbel is owned by six private persons who all work at the company.
How large is the company and how many people does it employ?
At present, the company employs almost 70 people, most of whom will work in the new building when it is completed. The company’s turnover in 2018 was 4.2 million euros.
Why did you need a new production building?
Veljo Kiigemägi, the director of Velma Mööbel OÜ, says the building will bring together all of the production which is currently scattered over three locations in the city of Tartu.
Which possibilities will it create for the company?
A single production building will improve efficiency because we can plan resources more easily than before and direct workers to the stages of work that need them the most. This frees up resources to create more added value.
What makes the new production building unique?
Modern energy-efficient solutions are used in the new factory building. For example, we are planning to use controllable ventilators with a high-efficiency frequency converter in the ventilation system and regulate the suction of the aspiration system with an automatic damper, which will significantly save on electricity consumption.
When will the building be completed and how large will it be?
It is scheduled to open in Q1 of 2020 and will have an area of 3000 square metres.
Why did you choose Coop Pank to finance you?
We had a great partnership with the customer relations manager; their communication was much faster and more caring than that of other banks.