Danspin, a Danish carpet and wool spinning company, will invest more than 40 million litas (11.6 million euros) into the development of a carpet yarn spinning factory in Raseiniai where they plan to create 200 new jobs and establish an research and development centre.
Up to 5 million litas has been earmarked from EU structural support funds to implement the project, the Ministry of Economy reported. The investment is a positive sign for Lithuania's manufacturing industry, which was heavily hit during 2008-2009 and is yet to fully recover.
Minister of Economy Rimantas Zylius said that his ministry would aim to bring in more similar investments in future.
"Investment attraction to Lithuania is among the government's priorities. We are especially delighted that investments come to our region; the Danish company has decided not only to create several hundred new jobs in Raseiniai but also establish an R&D centre to develop new technologies," the minister said in a press release.
"We will continue working this way and seek that Lithuania be even more distinct on the investment map able to attract more companies capable of creating new jobs,” Zylius said.
Danspin's CEO said that the Lithuanian government's incentives had been a key reason to choose the country for investment.
"Support from Invest Lithuania and the government was among the most important criteria for us to select Lithuania. Invest Lithuania were with us from the beginning to the end of the project and their professional assistance helped make the project a real investment,” Lars Petersen, CEO and co-owner of Danspin said.
Danspin was founded in 1931 and has subsidiaries in Denmark and Estonia. Since 2002 a factory in Raseiniai has successfully operating in Lithuania.
Rašyti komentarą