Narva factory's €10 million investment to create 150 new jobs ({{commentsTotal}})

Lars Hellberg.
Lars Hellberg. Source: (Invest in Estonia)

While a number of Ida-Viru County industrial enterprises have been experiencing layoffs — Silmet, for example, jut announced the layoff of 65 of its 500 employees — Finnish company Fortaco, which handles outsourced jobs for large machine manufacturing businesses, is hiring instead.

"Last year we hired 70 new people, increasing the number of employees to 500," Fortaco Group board chairman Lars Hellberg told business daily Ärileht (link in Estonian). "The expansion will bring it to 650 people.

Fortaco will invest €10 million in the expansion of its Narva factory. The investment will expand the factory, operated previously as Baltijets and now under Fortaco Estonia, by an additional 10,000 square meters in production space.

According to Hellberg, half of the investment will be dedicated to buildings while the other half will go toward outfitting them. For example, Fortaco will purchase a modern, €800,000 production line for the Narva factory.

"I am completely satisfied with the quality of the workforce," Hellberg confirmed. "They are fantastic. Compared to six production facilities in our group which are located in Hungary, Slovakia, Poland and Finland, Estonia is one of the biggest and does very good work."

Editor: Aili Vahtla