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International Internet Magazine. Baltic States news & analytics Monday, 01.06.2020, 21:05

Lithuania's Juodeliai to invest EUR 40 mln into new production facility

BC, Vilnius, 06.03.2019.Print version
Lithuania's wood processing company Juodeliai is starting the construction of a world-level production facility for packaging elements in the southern town of Marijampole, and its production capacity will double, accrodgin to the Verslo Zinios business daily writes LETA/BNS.

Work has already been started on a 20 ha land lot the company bought near the Marijampole FEZ, with the total value of investment set to be up to 40 mln euros.

"The world's fastest production line for packaging elements will be built and its annual productivity, working four shifts, will be up to 1 million cubic meters of processed materials," Andrius Zimnickas, CEO at Juodeliai, said.

The company now operates three production facilities in Lithuania, employing more than 400 people.

Juodeliai's sales revenue rose 26% to 46 mln euros last year. And the volumes of products grew 3.2 percent to 229,000 cubic meters.

Juozupas Zimnickas and Asta Zimnickiene own 100% of Juodeliai.

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