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International Internet Magazine. Baltic States news & analytics Tuesday, 24.11.2020, 11:43

Norway's furniture maker Ekornes eyes expansion in Panevezys

BC, Vilnius, 17.10.2017.Print version
Norway's furniture production group Ekornes is considering expansion in Panevezys, northern Lithuania, founding a subsidiary in the Panevezys free economic zone (FEZ), informs LETA/BNS.

Rokas Krivonis, director of the Panevezys FEZ operated by Ogmia group, told BNS that he could not yet confirm Norway's plans in Lithuania.


"I only know that there is such a company of Norwegian capital, this is the main message, I cannot comment on more information. (…) I cannot deny or confirm (negotiations), as the company is international, we will try to observe confidentiality," Krivonis told BNS.


In his words, more information should be available in early December.


Furniture industry has long traditions in Panevezys, which is currently home to one of Lithuania's largest furniture producers, Dominari.


BNS has not been able to obtain a comment from Norway's Ekornes or IMG on the matter.


According to information provided by the Center of Registers, Norway's IMG Goldco is the only shareholder of IMG Lithuania, a company registered last week. IMG is part of the Ekornes group, which produces couches and chairs.


Ekornes said on its website that IMG production was best known in Australia and the United States. The group has a total of nine furniture plants, including five in Norway, two in Vietnam and one in Thailand and the US each.

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