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“Conresta” to Build a New “Vilniaus Baldai” Plant Worth 50 Million Euros

Date

2019.10.16

One of the largest furniture manufacturers in Lithuania, “Vilniaus Baldai”, will build a new plant in Guopstai village, Trakai district. The project will be carried out by “Conresta”, the leading construction company in the country.

General contract with “Conresta” was signed by “Trenduva”, a subsidiary of “Vilniaus Baldai”. Construction is scheduled to begin in the second quarter of this year and should be completed in the second quarter of 2020, “Vilniaus Baldai” reported via the “Nasdaq” Vilnius Stock Exchange. According to the project’s Environmental Impact Assessment Report, the plant, which will be located near the Vilnius-Druskininkai road, will have a total of 730 workplaces, about 100 of which will be new.

In April of last year, it was announced that “Vilniaus Baldai” would renew its technology and increase production after signing a long-term contract with its largest customer, the Swedish furniture trade group “Ikea”. “Vilniaus Baldai” sales to “Ikea” account for about 99% of all its sales.

 

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