PEIKKO GROUP TO PURCHASE 8 700 M² PRODUCTION PREMISES IN KAUNAS, LITHUANIA

Peikko Group’s Lithuanian subsidiary Peikko Lietuva UAB has signed a contract with Ektornet Commercial Lithuania UAB to buy a large industrial complex of 8 670 m² situated in the industrial area of Kaunas. Peikko has been on the Lithuanian market with own production since 2006. Peikko Lietuva has currently premises of 3 000 m² in Kaunas and it employs 75 persons. The new production premises will be double in size compared to the current and enable a significant growth in production. Peikko Lietuva UAB focuses on producing composite steel structures, e.g. composite columns, for the Nordic and Baltic markets. Due to the current tenant of the bought premises, the move of Peikko’s production to the new premises will take place during 2013.

The investment supports Peikko’s growth targets and will also result in long-term volume increase of the Finnish and Slovakian Deltabeam plants. Peikko’s composite structure solution is a composite construction frame consisting of Deltabeams and composite columns. It is eminently suited as a frame for office and commercial buildings as well as public buildings.

“Peikko targets to significantly increase the sales of these solutions also beyond our existing markets. We are very happy about the development of our Lithuanian operations. This latest investment enables our Lithuanian team to serve Peikko Group’s customers even more efficiently in the future.” states Topi Paananen, CEO of Peikko Group Corporation.