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 Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
100 jobs Number of planned job creations
Announcement Date
5 September 2006
Employment effect (start)
1 January 2008
Foreseen end date
Description
Latvijas Finieris, one of the biggest Latvian wood processing companies, which exports its production to more than 40 countries in the world, intends to build a new wood processing factory in Lithuania. The factory will start its work at the beginning of 2008 in Ukmergė. According to the administration, 100 new workers will be employed in it. Latvijas Finieris has already established its subsidiary in Lithuania Latvijas Finieris Mikas, which will help to organise all the work in the new factory. The main role of Latvijas Finieris Mikas in Lithuania is to provide wood for Latvijas Finieris factories. In all the Latvian company ownes 8 subsidiaries in Europe, USA and Japan.
Sources
5 September 2006: Lietuvos Rytas
Citation
Eurofound (2006), Latvijas Finieris, Business expansion in Lithuania, factsheet number 64043, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64043.
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