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International Internet Magazine. Baltic States news & analytics Monday, 21.09.2020, 14:53

Aquaphor to invest EUR 20 mln in NE Estonian plant

BC, Tallinn, 23.11.2018.Print version
The manufacturer of water filters Aquaphor is about to invest over 20 million euros in plants in the northeastern Estonian cities of Narva and Sillamae and create almost 250 new jobs with the investment., informed LETA/BNS.

Aquaphor has set up its Estonian manufacturing units in Sillamae and Narva. The director general of Aquaphor Group, Joseph L. Shmidt, said that the company will establish new manufacturing facilities in the place of the present warehouse buildings and also set up a logistics center. 


"As the next step, Aquaphor has decided to expand its manufacturing unit in the territory of the Industrial Areas of East-Viru in Narva," Schmidt said in a press release. He said that as a result of the investment, the company will expand its product offering, significantly increase sales and add some 250 new jobs in total at its Narva and Sillamae manufacturing units. 


The industrial group of US and Russian origin is one of the biggest manufacturers of water filters with a broad product offering globally. Of the output of its Estonian subsidiary OU Westaqua-Invest, export makes up 80%, Enterprise Estonia (EAS) said.


EAS is supporting the investment with one million euros as part of its support measure for large investors. 


"The Estonian Investment Agency of EAS is pleased to see that as a combined effect of long-term investor service and the support measure for large investors a world-class company has decided to bring the manufacture of its new innovative product category to Estonia. By this Westaqua will become one of the biggest employers in East-Viru county and a trailblazer in the automation of industry," said the director of the Estonian Investment Agency at EAS, Allan Selirand


The aim of the large investor support scheme of EAS is active involvement of large investors in the economy of Estonia through technology investments which contribute to the growth of productivity and export potential of a company, the increase of the added value of products, the opening of new market opportunities, and create conditions for the establishment of higher value adding jobs.


The amount of support is one million euros and the grant rate is up to 10 percent of eligible costs. The maximum duration of a project is 24 months.


Eligible for the support are companies whose consolidated turnover, or the consolidated turnover of the parent company of the group that the large investor belongs to, was at least 100 million euros during the financial year preceding the submission of the application.


The provision of the support is subject to certain conditions, such as the creation of high value-added jobs and an increase in sales turnover and productivity. 


Previously, EAS has extended support under the same measure to Metsa Grupp for the establishment of a plywood factory in Parnu and to Estonian Plywood AS for the establishment of a plywood and veneer factory in Jogeva County.






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