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International Internet Magazine. Baltic States news & analytics Tuesday, 21.11.2017, 06:12

Denmark's Furnmaster plans expansion in Lithuania

BC, Vilnius, 14.07.2017.Print version
Danish-owned furniture manufacturer Furnmaster is set to relocate its production from the town of Vilkaviskis to Marijampole, the administrative and industrial center of southwestern Lithuania, as part of its expansion plans, reports LETA/BNS.

The company says that it will release more information about its plans next month after getting the go-ahead from its shareholder, Denmark's Gabriel.

 

"We are currently operating in Vilkaviskis and will expand into Marijampole. We will retain all current employees and will hire additional workers," Furnmaster Lithuania CEO Egle Gruodiene told BNS.

 

The company currently employs 120 people, she said.

 

Egidijus Jurgelionis of Invest Lithuania, the government's foreign investment promotion agency, said that he could not comment on the company's expansion plans at the moment.

 

Furnmaster Lithuania posted 4.143 million euros in revenue for the financial year ended Sept. 30, 2016, an increase of 88.2% year-on-year.

 

The Lithuanian company, which was established in October 2012, says that its main customers are from EU countries.






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