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Thursday, 28.03.2024, 16:35
Estonia: Ekspress Grupp invests up to EUR 2 mln in automation of production process
The purpose of the investment is to automate the production
process of the printing house. It is estimated that the work of 25 people will
be automated with the installation of the equipment. The cost of the equipment,
including installation and construction, will be in the range of 1.5 mln to 1.9
mln euros, of which 80% is financed by leasing, Ekspress Grupp told the
stock exchange.
Installation and commissioning of the equipment is planned
for the first quarter of 2020.
AS Ekspress Grupp's key activities include web media
content production, publishing of newspapers and magazines and provision of
printing services in Estonia, Latvia and Lithuania. The media group that
launched its operations in 1989 employs 1,700 people, owns several web media
portals in the Baltic states and publishes daily and weekly newspapers as well
as magazines.
AS Printall, the printing arm of Ekspress
Grupp, exports over 60% of its output to Europe. In 2018, the company's
revenue totaled 25.2 mln euros and it employed 220 people.