When the Lithuanian company Kaunas Metal is to establish itself in Sweden, Västernorrland is one of two places the company is interested in. Yesterday, Torsboda Industrial Park and Kaunas Metal signed a Letter of Intent and work towards an agreement on establishment is intensifying.
The company will set up a new plant to turn recycled steel into rebar. This will create up to 300 jobs.
- "Steel production is one of the major problems we need to solve when we transition to a sustainable society and a circular economy. Therefore, it feels very good to be able to welcome a company that uses old raw materials to make new products," says Maja Ulander, Investment Advisor at High Coast Invest.
High Coast Invest has helped Kaunas Metal to map out Västernorrland's opportunities in infrastructure, energy and access to talent - with good results. Robertas Buckus, CEO of Kaunas Metal, sees that their end product can be produced in a more sustainable way, which the construction industry demands.
- We will continue to look at Torsboda and Umeå, which both look like very good options for us. Before the end of the year, we expect to have decided and signed a contract," says Robertas Buckus.
A Letter of Intent, which is what the company signed with Torsboda Industrial Park, shows that the parties agree to continue or start negotiations.
- The growing interest shows that the collaboration between us, Business Sweden and local sites such as Torsboda Industrial Park is bearing fruit and contributing to a strong and vibrant region," says Mikael Aamisepp, Investment Manager at High Coast Invest.
- The fact that we attract Kaunas Metal, which has a high sustainability focus throughout the process, is proof that we have a competitive offer for those who want to contribute to the green transition," says Maja Ulander.
Contact
Maja Ulander, Investment Advisor High Coast Invest
+46 (0)70 406 72 30
maja@highcoastinvest.com
Mikael Aamisepp, Investment Manager High Coast Invest
+46 (0)73 270 45 74
mikael@highcoastinvest.com
