International Internet Magazine. Baltic States news & analytics
Wednesday, 25.11.2015, 00:09
Lithuania's furniture manufacturer Akmena in 2015 is targeting revenue growth of around 8% after increasing the amount of products made for Sweden's furniture giant Ikea, the business daily Verslo Zinios reported on Thursday, informs LETA/BNS.
Keyword tags: EU – Baltic States, Good for Business, Lithuania, Markets and Companies, Woodwork
Lithuania's wood processing and furniture production group VMG is stepping up investment in Belarus with plans to double VMG Industry's production output in Mogilev and to expand solid wood furniture and pellet production in Borisov, close to Minsk, the business daily Verslo Zinios reported on Wednesday, cites LETA/BNS.
Latvijas Valsts Mezi (LVM), the company responsible for management of state-owned forests in Latvia, remains the leader of the forestry industry for the third successive year with EUR 275.71 million in 2014 turnover, according to the Latvian Business Annual Report 2015 compiled by Firmas.lv and LETA.
Furniture industry professionals say that Sweden's Ikea, one of the biggest buyers, has brought a new business culture to Lithuania's furniture sector, the business daily Verslo Zinios reported on Wednesday, cites LETA/BNS.
Dominari, a Lithuanian company owned by Swiss-registered Dominari Holding SA, looks set to become one of the largest furniture factories not only in Lithuania, but also in Eastern Europe, with plans to have over 110,000 square meters of premises in the first stage of expansion, Verslo Zinios reported on November 5th.
Lithuania's wood processing and furniture production group VMG is planning to expand its operations in Belarus, the business daily Verslo Zinios reported on November 6th, cites LETA/BNS.
Pursuing its vision to become recognised in Europe, for the last couple of years the companies of AB Grigiskes group concentrated on growing export turnovers. During the first half of the year 2015 the company's overall export turnover of tissue paper and packaging products increased by more than a fifth, i.e. 22%, and even by 63% since 2013, reports LETA/ELTA.