Netmark, a Danish producer of equipment for the fisheries industry, has announced plans to build a new 4,000 square meter production facility in Tauragė, Lithuania. Having purchased the buildings and leasehold on the 0.8 hectare plot adjacent to their current premises for €260,000, Netmark plans to begin construction on its new production unit this spring.
Netmark announced its plans to further develop its presence in Tauragė last year, and has now completed negotiations with Tauragė municipality on the terms and cost of the leasehold. Nomeda Volynko, the director general of Netmark, explained that once the existing buildings on the plot have been demolished, construction on the brand new facility will begin.
Netmark produces nets, ropes, buoys and other specialised products for the fishing industry. According to Ms Volynko, Netmark cannot disclose detailed information regarding the new investment and the company’s production plans due to stiff competition in the sector. “The competitive environment is very intense,” she explained, “and other producers working in the same area are paying close attention to our actions, so we cannot name the specific product we plan to produce at present.”
What is clear, however, are the benefits the new production unit will bring to the local community. At least 20 new jobs will be created at the new unit, adding to the current total of 120 Netmark employees working in the existing facility. Since its establishment in Tauragė a decade ago, the manufacturer has expanded its operations there significantly, and now turns out around 500 tonnes of specialist fishing nets annually. Last year, the company increased its sales by 10%, reaching a turnover of €4.2 million.
Source: Verslo žinios
