Lithuanian Based B GROUP, operating reinforcement service centers and stocks in Northern Europe, announced second stage investment plans into Norwegian unit.
According company press release, the factory, which started its operations in 2017, and now operating in the Port of Moss, Norway, will reach additional 2 000 000 Euro investment into relocation and modernization of production area and new machinery that will be more based on production from straight reinforcing bars.
Last year we supplied over 48 000 tons into Norwegian market, and expect a raise of at least 10 percent in 2020. Our location of services centers, allows us to source material from Swedish and Lithuanian units, by additional capacity of 5000 tons monthly, into Norwegian market, allowing us to serve highest volume demand projects. We believe in Norwegian market, which is showing strong demand and good reinforcement material consumption.
There are numerous of new projects upcoming, with a strong demand of reinforcement, said Mr. Tadas Tkaciovas Chairman of the board of the group.
Last year B GROUP has transformed, over 70 000 of tons, in their service centers Located in Sweden, Finland, Norway and Lithuania. Reaching overall 150 000 tons of material delivered into Northern Europe, being the largest importer into Scandinavian region and according prelaminar not audited results with a turnover of 130 mln Euros.
Source: B GROUP