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2023-10-06 00:00:00
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VMG Group, a prominent name in wood processing and furniture production in Central and Eastern Europe, in collaboration with real estate development giants, Hanner and Baltic Industrial Fund II, managed by BRAITIN, has inaugurated a €100 million structural engineered timber material factory in Lithuania. This venture aims to significantly contribute to the burgeoning green ConTech industry by facilitating the creation of sustainable and eco-friendly construction materials.
Sigitas Paulauskas, an investor and shareholder of the VMG group, highlighted that the new product range is a unique amalgamation of engineered timber materials designed for construction, maximizing the efficient utilization of wood biomass. He asserted, “This should ensure the pinnacle of sustainability standards and propel the green ConTech industry’s swift advancement.” Paulauskas also emphasized the factory’s role in fostering sustainable and climate-friendly construction development, catering to both local and international markets.
The newly established VMG Lignum construction factory boasts the capability to produce 120,000 cubic meters of Laminated Veneer Lumber (LVL), 15 million meters of I-joists, and 200,000 cubic meters of structural particle boards annually. The engineered timber products and innovative building solutions will cater to new constructions and serial panelized renovation projects alike. Initial production targets for exports encompass Scandinavian and other European countries, North America, and Australia.
Plans for future development phases include diversification of sustainable building structures, introducing products like prefabricated wall and ceiling panels, glued LVL columns, and decorative sheet-adorned wall chipboards.
Unified with 20 companies and employing over 3000 individuals, VMG group is committed to responsible business expansion. Its investments span wood processing, sustainable wood product production, renewable energy, industrial innovations and technologies, and engineered wood structures. Efficient management of infrastructure and industrial real estate is also a focal point, aligning with the group's vision to bolster timber construction, a vital element in the green ConTech industry's objectives.
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