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Severstallat to invest a million euros in new plant in Lithuania

11. July 2007

One of the largest metal traders and manufacturers in the Baltic JSC Severstallat is to open new plant in Lithuania aiming to produce armature.

Metal working and trade company JSC Severstallat operating in Latvia has made its first investment abroad – company has invested one million euros in new plant in Lithuania, which is planned to produce armature.

At the beginning the JSC Severstallat subsidiary company in Lithuania „Armet” will carry out only metal sale, whilst, in three months the production units for producing armature will be set up and production of armature launched.

JSC Severstallat is already represented in Lithuania market by several metal productions and products, but after the launch of new plant the range of offer will be significantly broader.

Severstallat is a Joint Stock Company established in 1992 having two shareholders SIA "Holdinga kompanija FELIX" (49,5 %) and Severstal Trade GmbH Austria (50,5 %). Severstallat products are exported also to Poland, Germany, Austria, the Czech Republic, Scandinavian countries and elsewhere.

Source: Dienas Bizness, 22 June 2007