On Friday, one of the largest particle board factories in Europe, in which Vakarų Medienos Grupė (VMG) invested 146 MEUR, started operating in the Akmenė FEZ (Free Economic Zone), creating 140 new job positions.
The innovative equipment installed by German company “Siempelkamp” successfully produced the very first particle board on Friday. Annual production capacity of the factory will reach up to 600.000 m3 of particle board. Future plans consist of further development of production capability.
According to Sigitas Paulauskas, the principal shareholder of VMG Group, the establishment of the factory suggests an ensured demand for particle boards in Lithuania.
“The production of Akmenė factory will grant a relevant impulse, affecting industries beyond wood processing and furniture. A stable, long-lasting industrial product is bound to open new possibilities for building, decoration, infrastructure, wood for construction as well as other business sectors. The value created by the project will undeniably reflect in the economic index of the country,” says the VMG Group major shareholder Sigitas Paulauskas.
The majority of the 140 new job positions are intended for automated bench operators. An investment of approximately 1 MEUR is dedicated to every single high added value job position.
The construction of the factory commenced in August 2018. The official opening day is planned to occur in September 2020.
VMG Group is one of the largest wood processing and furniture production groups in the Baltic States, uniting 16 Lithuanian and foreign companies with more than 4000 employees. Over 90% of VMG Group's products are exported to foreign countries. During the year 2019 the group 's unconsolidated sales increased by 13% and reached 394 MEUR.
