The investment, supported by the Estonian government, is to consist of a 10,000-square meter factory extension and new equipment. Work already commenced in July 2019 and is scheduled to be completed within a year, the company says.

"I am happy to announce the start of the extension, after intensive preparations and good cooperation with Narva city government, construction company Rand and Tuulberg, engineering company Esplan, project management company HML, Swedbank Estonia and Fortaco's team in Narva," said Lars Hellberg, President & CEO of Fortaco Group, in a company press release.

"The extension is a critical platform for further supporting our customers, by offering steel fabrication capacity based on a high degree of automation and strong operational excellence. We believe this investment is also an important economic step in the city of Narva, and it reenforces the lengthy relations that Fortaco's Narva factory has in the region," Hellberg continued.

"Over the past two years, the business has developed well. To meet the growth in demand, Fortaco has also invested in several large numerical control (CNC) machines and welding robot stations at the existing factory, and 200 new employees have been added to the Narva factory team. The new extension will create additional workplaces for to 50 employees," added Larissa Shabunova, Managing Director of Fortaco Estonia OÜ.

Fortaco's factory in Narva provides major original equipment manufacture (OEM) customers with manufacturing capabilities, including steel fabrications used in various lifting applications and mobile equipment components, the company says. Fortaco operates five state-of-the-art factories in Finland, Hungary and Poland as well as in Estonia.

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