The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31 - Manufacture of furniture
400 jobs Number of planned job creations
Announcement Date
28 January 2021
Employment effect (start)
17 January 2022
Foreseen end date
30 September 2022
Description
The VMG Group company VMG Akmenes baldai which manufactures furniture will create around 400 new jobs in Naujoji Akmene in 2022. The company has announced plans to open a new furniture manufacturing plant and to hire around 400 employees in the Akmene Free Economic Zone by the 3rd quarter of 2022. The investments in the plant amount to around €90 million. Currently VMG Akmenes baldai employs 16 employees.
VMG Group is one of the largest wood processing and furniture production groups in the Baltic States, uniting 25 Lithuanian and foreign companies with more than 5,000 employees. The production of the group companies is exported to more than 40 countries worldwide.
Eurofound (2021), VMG Akmenes baldai, Business expansion in Lithuania, factsheet number 106163, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106163.
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