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Saturday, 23.11.2024, 11:42
Norway's Ekornes investing EUR 10 mln in Panevezys
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The Panevezys Free Economic Zone (FEZ) has announced signing of a contract
with IMG Group.
"The choice to invest in the Panevezys FEZ will allow reducing supply
times and boost the production and supplies of specific products for the
European market. Bigger flexibility will ensure better product quality for
existing clients and will allow expansion to new markets," James Tate,
president of the IMG Group, said in a
press release.
Construction of the new plant should be started in mid-2018, with
production and distribution launched in early 2019.
Norway's IMG is part of the Ekornes group, which manufactures sofas
and chairs. According to the group's website, IMG production is best known in Australia and the US. The group
operates a total of nine factories: five in Norway, two in Vietnam, one in
Thailand and one in the United States.
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