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Friday, 26.04.2024, 08:06
Lithuania's wood industry group VMG set to invest EUR 180 mln in Akmene
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Vitalijus Mitrofanovas told BNS that around 400 new jobs would be created in total, including
some 150 at the initial stage.
"They are planning initial investment in a particle board factory,
thus creating around 150 jobs. Their total planned investment on this plot of
land (on the Akmene free economic area) would amount to some 180 million euros
by 2022. The board factory should start operating in the first quarter of
2020," he said.
The mayor said that another 250 new jobs would be created at VMG's new
furniture production facility to be built at a later stage.
Sigitas Paulauskas, chairman of the management board at VMG, confirmed to BNS that the group
intended to invest in the district of Akmene, but he did not elaborate on these
plans.
VMG, which sells the bulk of its products to Sweden's Ikea, posted 16.403 million euros in consolidated net profits for
2016, up 7.3% from 15.289 million euros in 2015, as consolidated revenue
increased by 6.1% to 144.894 million euros.
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