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Finland's Peikko investing EUR 9 mln in new factory in Kaunas
BC, Vilnius, 24.08.2016.
Print version
Print versionFinland's reinforced concrete connections manufacturer Peikko is investing more than 9 million euros in a new beam factory in Lithuania's second-largest city Kaunas, informs LETA/BNS.
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"The new factory in Lithuania will
bring us the needed capacity increase on long-term. Peikko already has a
well-functioning production unit in Kaunas, so building the new factory there
was an easy decision. Lithuania is logistically ideally located to effectively
serve our current main markets – the areas around the Baltic Sea," says Topi Paananen, CEO of Peikko Group Corporation.
The new factory should occupy an area of
6,000 sq. meters, with the new capacities enable production of 250 reinforced
concrete beams per week. The company said the new plant in Kaunas will boost
the production capacities of Peikko in Europe by 30%.
The factory should be launched in the 3rd
quarter of 2017.
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