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Saturday, 30.03.2024, 07:29
Ukraine's pet food maker Kormotech to build plant in Lithuania
The Ukrainian company plans to invest over 6 mln euros in
the new plant on the Kedainiai Free Economic Zone and to employ around 70
people, the government's foreign investment promotion agency said in a
press release.
"Lithuania has a strong geographic advantage, and the
free economic zone provides attractive conditions for doing business, in
particular tax breaks for the first 10 years of operations," he added.
The CEO said the company was looking to expand in European,
Scandinavian and American markets.
Kormotech, which manufactures food for cats and dogs, plans
to launch its new plant with an annual capacity of 20,000 tons next year.
The Ukrainian manufacturer exports its products to 16
countries. It has this year received the green light for exports to the
US.