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Company: Laiko
Geographic location
- Country:
- Region:
Latvia ; Latvija
- Location of affected unit(s):
- Group :
Kvist Industries
- Sector :
Manufacturing: Other manufacturing, and repair and installation of machinery and equipment, 31
- Number employed:
Employment effects
- Announcement Date:
- Planned job reductions:
- Type of restructuring:
- Employment effect start:
- Foreseen end date:
- Direct dismissals:
- Other job reduction measures:
- Planned job creation:
Additional information

Kvist Industries, has acquired the previously closed Laiko factory in Mālpils from Swedbank. It is planned to create 100 working places and begin production by April 2012.

Laiko factory in Malpils was closed down along with other Saga group manufacturing units in 2009, and 300 employees lost their job. Swedbank bought Saga group property at auctions organized by insolvency administrators of Saga group in 2010. Later Swedbank tried to find investors for the closed factories which resulted in the deal with Kvist Industries. Previously this year Swedbank sold Saga trade Tukums production unit to Tukuma mebeles, enterprise which is 100% owned by Dailrade Koks, one of largest furniture manufacturers in Latvia,

Kvist Industries is a Danish furniture manufacturer with history that dates back to 1896. Kvist Industries employ 80 people at the factories in Denmark and 50 employees in Slovakia.


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Page last updated: 6 June, 2012