Germany's Homanit, which announced in early 2019 a 100-million-euro investment in a new wood fiberboard factory with 440 employees in Lithuania, is set to launch design procedures shorty, with construction work on a 40-hectare site in Pagiriai, near Vilnius, expected to begin in late 2020, the business daily Verslo Zinios reported on Friday.
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The decision to build a new production facility in Lithuania was taken due to growing demand from local furniture manufacturers which are currently supplied with Homanit products from two factories in Poland.

In 2017, Homanit Holding had plans to invest 65 million euros in Grigeo Baltwood, a subsidiary of Lithuania's hardboard and hygiene paper producer Grigeo, but cancelled the planned deal in February 2018.

The German company then said that the amount of land Grigeo Baltwood owns in Grigiskes, a suburb of Vilnius, was insufficient to meet its business expansion needs.

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