The management of Homann Holzwerkstoffe GmbH has decided to postpone the planned start of production at its new plant in Lithuania, near the capital Vilnius, until presumably September 2024.
The start of production scheduled for the end of 2023 was initially delayed due to technical problems, which were resolved at the beginning of 2024. The reason for the further delay is that the management considers the existing environmental permit to be insufficiently robust to enable economic and competitive production. The management is in constructive discussions with the authorities in order to quickly put the approval situation on a viable footing.
Accordingly, the management has decided to postpone the start of production at the plant until September 2024 and to temporarily send the employees already working in Lithuania to work part-time in order to limit operating costs until the necessary permits are expected to be obtained. Further training measures will be carried out on the basis of the reduced working hours to ensure a smooth start of production.
Against this background, contrary to the company's assumption, the plant in Lithuania will not yet make a positive contribution to the Homann Holzwerkstoffe Group's earnings in 2024. However, the management assumes that the company's existing plants will be able to largely compensate for the lack of earnings contributions from Lithuania.
Headquartered in Munich, Homan Holzwerkstoffe GmbH is a leading supplier of thin, high-quality finished medium-density and high-density fibreboards (MDF/HDF).
