When the Lithuanian company Kaunas Metal plans to establish itself in Sweden, Västernorrland is one of two locations the company is considering. Yesterday, Torsboda Industrial Park and Kaunas Metal signed a Letter of Intent, intensifying the work towards an establishment agreement.
The company aims to set up a new facility where recycled steel will be turned into rebar, creating up to 300 jobs.
–Steel production is one of the major issues we need to address when transitioning to a sustainable society and a circular economy. Therefore, it is very exciting 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 assisted Kaunas Metal in mapping out Västernorrland’s opportunities in infrastructure, energy, and talent availability – with positive results. Robertas Buckus, CEO of Kaunas Metal, believes their final product can be produced more sustainably here, which the construction industry demands.
–We will further examine Torsboda and Umeå, both of which appear to be excellent options for us. We expect to make our decision and sign an agreement before the end of the year, says Robertas Buckus.
A Letter of Intent, which the company has signed with Torsboda Industrial Park, indicates that the parties agree to continue negotiations.
–The growing interest shows that the collaboration between us, Business Sweden, and local sites like Torsboda Industrial Park is fruitful and contributes to a strong and vibrant region, says Mikael Aamisepp, Chief Investment Officer at High Coast Invest.
–Attracting Kaunas Metal, which has a strong 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.
