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Retal Invests €4 M in Klaipeda Expansion
Global packaging manufacturer RETAL will invest a further €4 million in its Lithuanian operations, this time for a new 4000 square meter warehouse and administration building for a state of the art laboratory in the Klaipeda Free Economic Zone (FEZ).
To meet the growing product demand from its customers throughout Europe and beyond, RETAL (Baltic) recently signed the contract with Klaipeda FEZ to expand its existing premises. RETAL Baltic is already located in the Zone, manufacturing APET film that is used for food and other products, as well as HDPE bottle closures (caps), used for PET (polyethylene terephthalate) bottles.
RETAL Baltic, a part of Retal Industries Ltd, has been growing by 20% year on year over the last five years, with 2018 set to post a record turnover of €44 million.
In 2017 RETAL Baltic produced and sold 12,000 tons of APET film and 2.5 billion caps to customers throughout the EU as well as in Africa.
With nearly 400 people working in Klaipeda at RETAL Baltic and the NEO Group, and over 200 people in Lentvaris and Vilnius, about 600 people work for RETAL companies in Lithuania.
The headquarters of Retal Industries is located in Limassol, Cyprus.
Employing more than 2,800 people in 23 production sites in 12 countries, RETAL delivers high-quality products certified by ISO 9001, ISO 14001, ISO 22000 to customers in 60 countries.
Anatoly Martynov, the owner of Retal Industries, speaks from over 25 years’ experience in the industry. Martynov explains: “For over 10 years, we have continuously invested funds, know-how and experience in developing our dynamic enterprises in Lithuania. Lithuania is a strategically important region for RETAL in Europe. We plan to continue to grow our business and invest for the future to ensure stable market positions, partnership relations with customers and attract the cooperation with leading industry experts.”
Viktorija Jureviciute, General Manager of RETAL Baltic, says, “Klaipeda FEZ is an excellent location for RETAL for a number of reasons: the stability of Lithuania makes it favorable for investment; the Free Economic Zone aids business development; we have good relations with local governmental authorities; and we achieve superior results through the quality of our people.