ITALY: Marzotto To Invest $10m In Lithuania
The Italian linen spining company Linificio e Canapificio Nazionale, part of the Marzotto group, is set to invest $10m to build a new factory in Lithuania, the daily Lietuvos Rytas reported Friday. The new factory is to be built in Lithuania's second-largest city, Kaunas, on the territory of the Liteksas textile factory, which was bought this spring by Marzotto. Linificio e Canapificio Nazionale, which has a 25-percent share of the European linen yarn market, is due to launch production at the factory by the end of 2001 under the name Lietlinen.
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