Technical–economic evaluation of a small-scale model plant for the manufacture of pine glue laminated timber

A small-scale glue laminated timber (GLT) model plant, capable of producing an average of 880 linear m of lamellas per day, approximately 1500 m³/year, located in Castilla y León, Spain, was technically and economically evaluated. The production of such plant is aimed at substituting imports of GLT manufactured from spruce in Central Europe. The total investment considered for this theoretical operation was 455 k€. The raw material proposed was Pinus sylvestris classified according to UNE 56544 as ME-2. The external lamellas were defined as ME-1, upgraded from ME-2 by the removal of knots and deformations, which gives an average block length of 1825 and 3800 mm for external and internal lamellas, respectively. The effective stiffness of such configuration was modeled, rendering beams that could be assigned to class resistance GL24. Production costs were 770 k€, 52% of which were timber as raw material. The volume of production is affected by the combination of products manufactured; therefore, this variable was presented as a function of economic result, defining zones of product-mix that would be economically unfeasible, feasible with reservations, and feasible. The products to be manufactured were straight beams, 6-m long, of 9 different cross-sections, varying from 80 × 120 mm² to 200 × 600 mm². Additionally, production volume, wood cost, and block length are identified as critical parameters for the sensitivity analysis of the plant. Considering a wood cost for ME-2 of 220 €/m³, the plant must operate at 70% of its capacity to be economically feasible. The economic result of the operation increases proportionally to block length. The plant generates an EBIT of 51 k€, PNV of 415 k€ (discount rate of 4%), and an IRR of 19%.