AB VILNIAUS BALDAI starts the last stage of the new factory project and signs an investment agreement worth EUR 6 million with the State Investment Management Agency
22 Novembro 2021 - 4:22AM
AB VILNIAUS BALDAI starts the last stage of the new factory project
and signs an investment agreement worth EUR 6 million with the
State Investment Management Agency
The public limited liability company Vilniaus baldai has
successfully completed the first stage of the new factory project
in Guopstos Village, Trakai District. During it, a new factory
building was built and equipped, new production lines were
installed and furniture production was gradually started.
The second stage of relocation is now starting, which should be
completed by the end of 2022. It is planned to move all the
equipment located in the old factory. It is planned that the new
factory and the modern process automation, robotisation and
technological solutions will allow the company to increase
production capacity, to improve working conditions, to increase
process efficiency and to reduce energy consumption.
After moving the equipment to the new factory, Savanorių ave.
178 B production building in Vilnius is planned to be sold. A buyer
of the area is currently being actively sought.
On the 19th of November 2021, AB Vilniaus baldai signed a
financing agreement worth EUR 6 million with the State Investment
Management Agency, which manages the Business Support Fund. Under
the agreement, the Fund will redeem ordinary bonds worth EUR 6
million. The financing is granted for 6 years period, after which
AB Vilniaus baldai undertakes to redeem the bonds. The company also
has the possibility to redeem all or part of issued bonds before
the term of the agreement. The received financing will
significantly contribute to strengthening the company's liquidity
and ensuring the continuity of planned investments.
In the context of the financing of AB “Vilniaus baldai” by the
Business Support Fund, “Invalda privatus kapitalas”, the
shareholder of AB “Vilniaus baldai”, undertook to subordinate all
of it's claims towards AB “Vilniaus baldai” in favour of
the Business Support Fund.
Contact person:Chief Financial OfficerEdgaras KabečiusTel. No.
+370 (5) 2525700
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