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Marzotto Lab gets green light to acquire full control of Lietvilna
BC, Vilnius, 22.01.2016.
Print version
Print versionThe Lithuanian Competition Council has issued the green light for Italy’s textile manufacturer Marzotto, which controls two companies in Lithuania’s second biggest city, to obtain full control of another Kaunas-based company – Lithuania’s wool yarn manufacturer Lietvilna, reports LETA/BNS.
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Marzotto, which already owns 50% of Lietvilna’s shares, will acquire the remaining 50% from Fraver, another Italian textile company.
Marzotto and Fraver took over Lietvilna from Italy’s Filivivi in January 2014.
Lietvilna, which was established in 2004, has taken over yarn manufacturing following the reorganization of Liteksas, a Kaunas-based manufacturer of knitting yarn and blankets.
Lietvilna, which produces approximately 1,400 tons of yarn per year, describes itself as a leading European manufacturer of pure wool and half wool mangled yarn.
In 2014, the company’s turnover rose by an annual 6% to 16.2 million euros and its net profit soared by 27.3% to 561,500 euros.
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