Monday, September 18, 2023
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VMG Group, one of the largest wood processing and furniture production groups in Central and Eastern Europe together with real estate development leaders in Lithuania “Hanner“ and “Baltic Industrial Fund II” managed by BRAITIN opened a 100 million Euro worth factory of structural engineered timber materials in Lithuania.
VMG group shareholder and investor Sigitas Paulauskas said, “This product range is a worldwide unique combination of engineered timber materials for construction, the most efficiently utilizing the wood biomass. It should ensure the highest standards of sustainability and enable faster growth of green ConTech industry.” He also pointed out the fact that the factory is going to supply both local and global markets to encourage the faster development of sustainable and climate-friendly construction.
VMG Lignum construction factory has yearly capacities to produce 120.000 cubic meters of LVL (Laminated Veneer Lumber), 15.000.000 meters of I-joists, and 200.000 cubic meters of structural particle boards. Now the engineered timber products and building solutions will be supplied to both new construction and serial panelized renovation projects. The first target production markets for exports are currently the Scandinavian and other European countries, North America, and Australia.
With further subsequent phases of development, the solutions’ range will be expanded. It will then include other segments of sustainable building structures, such as prefabricated wall and ceiling panels, glued LVL columns, and wall chipboard with decorative sheets.
VMG group that united with 20 companies with more than 3000, plans to spread its business more responsibly. It invests in wood processing and production of sustainable wood products, renewable energy, development of industrial innovations and technologies, production of engineered wood structures, and efficient management of infrastructure and industrial real estate to enhance timber construction which has now been a top priority of the green ConTech industry.