Type
Business expansion
Country
Lithuania
Region
Lietuva; Vilniaus apskritis;
Location of affected unit(s)
Ukmergės rajonas
Sector
Agriculture
Agriculture, Forestry And Fishing
Forestry And Logging
2.20 - Logging

100 jobs
Number of planned job creations
Job creation
Announcement Date
22 May 2024
Employment effect (start)
1 September 2024
Foreseen end date
30 November 2024

Description

A Lithuanian capital company, UAB AM Group, is investing in the production of construction timber on a plot of approximately 10 ha in the Ukmergė district. The project has already been launched, with plans to construct two production buildings, 12 drying kilns and a production line from the German company Sagewerksanlagen. Production is expected to start this autumn and up to 100 new jobs are expected to be created already in the initial phase. According to the company's CEO, this will be a large sawmill and the project will be implemented in phases, gradually. As the mechanical processing of wood generates wooden waste, the plan is also to start a sawdust and chips to pellets business in the future. The company's managers do not predict when the wood processing plant might be fully operational. Much will depend on the economic and construction recovery in Lithuania and abroad, as the focus is also on exports. The shareholders of AM Group are three natural persons. UAB Šilalės Mediena has also granted a loan of EUR 1.5 million to the company.


Sources

Citation

Eurofound (2024), AM grupė, Business expansion in Lithuania, factsheet number 201235, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201235.