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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

·1-min read

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 Officer
Edgaras Kabečius
Tel. No. +370 (5) 2525700


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