Vilmers, an upholstered furniture producer, will invest approx. EUR 20 million in its new factory in Šiauliai free economic zone (FEZ), creating approx. 300 new jobs. The company manufactures sofas and armchairs, with the majority of its products exported to the Nordic countries and Western Europe.
Vilmers has concluded an agreement on a large investment project with the Ministry of Energy and Innovation. It is estimated that production in Šiauliai FEZ will start at the end of 2022 or beginning of 2023. The company expects to double its production volumes without changing the profile of its operations. In 2021, Vilmers‘ revenues totalled EUR 26.1 million. At present the company that employs approx. 470 people operates in the premises of former Tauras TV sets factory.
According to the Green Corridor initiative for major investors in Lithuania‘s regions, a business investing at least EUR 20 million in long-term capital and committing itself to create at least 150 new jobs is granted the status of a large investment project. Businesses having this status are provided with incentives that facilitate establishment and start of operations. Such companies enjoy a 0% income tax rate for up to 20 years. Vilmers is the fifth Lithuanian company that has been granted the status of a major investor.