The UAB Naturali Oda leather producer in Kedainiai, Lithuania, say they plan to invest around US$5.66 million in a new leather processing plant in Kedainiai’s suburbs, according to Baltic Business News. The company will transfer production from an existing facility in the town centre. Naturali Oda hope to receive US$2.30 million for the project from the European Union in the form of structural funds. Construction of the new plant is expected to take 15 months.
Naturali Oda recorded a turnover worth US$1.70 million in 2004, but turnover this year is expected to double to US$3.40 million. The company expect to increase their current workforce from 50 to 80 when the new plant is completed.
