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Thursday, 25.04.2024, 21:22
Danske grants EUR 6.1 mln loan to Lithuania's Elmoris
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"We are competing with world-level players. We will spend a part of the loan on equipment – metal processing machines, acquisition of transport and a production line, as well as expansion of production volumes. The other part will go towards refinancing an existing loan," Elmoris' CEO Gintaras Klovas said in a press release.
In 2015, the company manufactured about 545 million caps, planning to boost the volume to 650 million this year. The company's revenue from sales last year grew by 10% to 22.2 million euros year-on-year.
In Klovas' words, the company sells lids to 32 countries worldwide, including the United Arab Emirates and New Zealand, with merely about 10% of the output staying in the Baltic States.
Elmoris is currently readying to build a new factory in Vilnius.
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