Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
One of the largest Norwegian furniture manufacturing companies IMG Group is investing in Lithuania and will create 125 new jobs in Panevezys in 2019. In April 2018 the company established a subsidiary company IMG Lithuania and started construction of a new plant and distribution centre in Panevezys. The new factory should start operations at the beginning of 2019. Currently IMG Lithuania employs 22 employees. The company’s investment in the new plant will constitute around €10 million.
IMG Group is part of the Ekornes ASA group of Norway which is known for its luxury line of reclining armchairs and sofas. Ekornes ASA is the largest furniture manufacturer in the Nordic region and owns such brand names as Ekornes, Stressless and Svane.
Eurofound (2018), IMG Lithuania, Business expansion in Lithuania, factsheet number 96266, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/96266.