Neo Group invests €50m in PET production line
Neo Group, producer of PET granules, located in Klaipeda Free Economic Zone (FEZ) in Lithuania, launches a new production line. The additional capacity of the new line is planned to reach 480.000t/a, intended to strengthen the company’s position in foreign markets and to become the second-largest company of this kind across Europe. It is estimated that the market supply will grow by 155,000t of products annually.
Implementing €50m investment project, the company has created 35 new jobs. It is planned that the company’s revenue will exceed €500m/a, of which even €400m will consist of export sales, when the production of the new production line is realised.
Neo Group is a part of Retal Ind. Ltd, headquartered in Limassol, Cyprus.
