Regarding signing of agreement with IKEA AG and planned investments
„VILNIAUS BALDAI“ AB and IKEA AG have signed a long-term contract, according to which the company plans to increase its turnover and production capacity.
To fulfill the contractual obligations and prepare for sustainable further growth, „VILNIAUS BALDAI“ AB plans to invest into land plot outside Vilnius, new production and warehousing facilities, equipment, technologies and development of the production base. Planned investments should comprise 50 EUR m and would be done in the next 3 years. These investments will allow the company to significantly reduce direct and indirect costs, while ensuring sustainable cost of the products. Part of the existing production lines are also planned to be transferred to a new factory.
The new factory will create 100 additional jobs at the same time allowing to further improve current employees' remuneration conditions due to the improved productivity in the new factory.
Head of Finance
Tel.: +370 (5) 252 57 00