Sector: Particle board production
Final Exit Date: 2008
Amount invested: EUR 7.6 million (since 2005)
Exit proceeds: EUR 9.6 million
In July 2005 Vilniaus Baldai, managed by Invalda AB, subscribed to a new share issue of Giriu Bizonas and acquired a 25 % interest in Giriu Bizonas for EUR 7.2 million. In 2006 an additional investment into Giriu Bizonas accounted for EUR 0.4 million.
In 2007 by using the resources of the EU support and on funds Giriu Bizonas opened the new particle board production facilities with the capacities of 450.000 cubic metre per year. The total investment into the new particle board plant exceeded EUR 58 million, which became one of the largest investments into production facilities in Lithuania.
Late in 2008 Giriu Bizonas was sold to the Swedish concern IKEA, currently the key purchaser of the production of Vilniaus Baldai. The sale transaction of the 25 % of shares of Giriu Bizonas generated to Vilniaus Baldai EUR 9.6 million.