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Malmar
The Belgian company ‘Malmar NV’ will invest 5 million EUR in a high-tech metalworking plant in Ventspils , creating about 50 new highly qualified jobs for the city.
The plant in Ventspils is dedicated to the production and painting of chassis parts for the automotive sector. The newly constructed painting line consists of top of the range technological equipment, which can guarantee high-quality paintwork according to both ISSOTF and ISSO14001 quality standards.
On April 6th, 2006, ‘Malmar Latvia’ ltd. a subsidiary of ‘Malmar NV ’ and the Ventspils Freeport Authority signed a contract for the lease of 8 ha of land. The planned two-stage investment project was implemented in close collaboration with Investment and Development Agency of Latvia (LIAA).
The first stage of the Project was initiated in the summer of 2006. In total 600 m2 of production facilities were leased and 15 new jobs were created. The second stage of the project started in early 2007 when 35 more jobs in the factory were created.
One reason for the choice of Latvia was the possibility for the company to apply for EU structural funds, and in December 2006, a contract was signed with the LIAA to receive
Latvia was chosen as the ultimate investment location due to the set of very favorable investment incentives offered by the local municipality and The European Union, the advantages of the special economic zone in which it is located, and the excellent transport and logistics possibilities provided in Ventspils, the largest trading port on the Baltic Sea .
