The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31.0 - Manufacture of furniture
240 jobs Number of planned job creations
Announcement Date
16 October 2018
Employment effect (start)
1 January 2019
Foreseen end date
31 December 2019
Description
Freda, one of the oldest furniture manufacturing companies in Lithuania, is to create 240 new jobs in Kaunas free economic zone in 2019. According to the management, the company will launch a new manufacturing plant in Kaunas in the first quarter of 2019. The investment in the plant will total 42€ million. Currently Freda employs 795 employees.
The company started its activity as a sawmill in 1880; in 1992, it was registered as a furniture manufacturing company. Currently Freda manufactures flat pack furniture from chipboard, medium density fibreboard and cellular lightweight construction panel. Living room and hallway furniture constitute the main part of the production of the company.
Sources
Citation
Eurofound (2018), Freda, Business expansion in Lithuania, factsheet number 95685, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95685.
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