aA
Germany's Homanit, which announced in early 2019 a 100-million-euro investment in a new wood fiberboard factory with 440 employees in Lithuania, is set to launch design procedures shorty, with construction work on a 40-hectare site in Pagiriai, near Vilnius, expected to begin in late 2020, the business daily Verslo Zinios reported on Friday.
Medžio drožlių plokštės
Medžio drožlių plokštės
© Shutterstock

The decision to build a new production facility in Lithuania was taken due to growing demand from local furniture manufacturers which are currently supplied with Homanit products from two factories in Poland.

In 2017, Homanit Holding had plans to invest 65 million euros in Grigeo Baltwood, a subsidiary of Lithuania's hardboard and hygiene paper producer Grigeo, but cancelled the planned deal in February 2018.

The German company then said that the amount of land Grigeo Baltwood owns in Grigiskes, a suburb of Vilnius, was insufficient to meet its business expansion needs.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Vilnius Airport opens Covid-19 testing site

From March 1st, passenger travelling though Vilnius Airport will have the option of conveniently...

OECD: Lithuania needs to boost municipal borrowing capacity

Lithuania needs to increase the borrowing capacity of its municipalities for public investment to...

5 smart city solutions from KTU students for Kaunas

Smart waste collection systems, advanced street lighting, mobile applications informing on the traffic...

Avia Solutions Group calls block on its investment in Vilnius "witch hunt"

Avia Solutions Group, an aviation business group, says it is disappointed with the recent decision by...

Fertility clinic is suspected of having hidden EUR 1 mln in revenue

A fertility clinic operating in Lithuania's three largest cities is suspected of having hidden revenue...

Top news

"Game of Thrones" between president and ruling party for EC: arguments for and against

Lithuania's ruling conservative Homeland Union – Lithuanian Christian Democrats have launched an...

President expects J&J vaccine to fill gap after AstraZeneca cuts deliveries

Johnson & Johnson's coronavirus vaccine, expected to be authorized by the EU in March, should help...

243 new coronavirus cases

On Sunday, 243 new COVID-19 cases were recorded in Lithuania. In total, Lithuania has already recorded...

Vilnius Book Fair postponed to 2022

Vilnius' annual international book fair has been postponed to next year due to the epidemiological...

Vilnius Airport opens Covid-19 testing site

From March 1st, passenger travelling though Vilnius Airport will have the option of conveniently...