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Lithuania's Danspin plans expansion, new production workshops
BC, Vilnius, 30.11.2018.
Print version
Print versionAs yarn production companies are closing down or going bankrupt in Europe, Lithuania's Danish-capital producer Danspin is considering building new production shops, despite its production volumes dropping around 10% due to Brexit, according the Verslo Zinios daily writes LETA/BNS.
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"We have plans to expand and increase our capacity.
Although the shareholders are mulling it, no final decisions have been made
yet," Danspin director Rosvaldas Kunickas told the daily.
In his words, the company would expand talking the place of
closing or bankrupt companies and not due to a rise in demand. The company
posted around 11 mln euros in turnover in the fiscal year of 2016-2017, and
its net profit exceeded 1 mln euros.
Danspin exports around 60% of its yarns to the UK. It's
also slowly increasing exports to the United States and has been working with
China for several years now.
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