OREANDA-NEWS. February 04, 2013. This year saw a launch of UAB Utenos briketai-owned wood briquette production facility, one of the most modern in Lithuania, which was financed with the help of Ukio bankas. Upon completion of this two-year project worth LTL 2.7 million the new plant will allow the company to boost its production volumes by five times and expand to new foreign markets, reported the press-centre of Ukio bankas.

The new plant constructed upon using EU support for business set-up and development in rural areas along with a loan of more than LTL 1 million from Ukio bankas is planned to produce 2 tonnes of briquettes per hour. The new production line has an expansion possibility of up to 3 tonnes per hour.

In the words of Gediminas Kazukauskas, Director of the company Utenos briketai, low production capacities at the start of the new plant’s operation hardly reached 400 kg per hour and could satisfy only the needs of the local market.

“The number of buyers is growing every year and the Lithuanian market is expanding, but since it depends on seasonal fluctuations, in Lithuania we sell most of our products intended for burning in solid fuel boilers during the cold season of the year. In the meantime abroad these briquettes are in demand all year round. Thus, significantly expanded production possibilities will make it possible for us to enter foreign markets now.” maintains the company’s director.

UAB Utenos briketai plans to export around 80 to 90 % of its products to Germany and Denmark. Currently the company initiated cooperation relationships in Sweden.

As maintained by Antanazas Liorentas, Ukio bankas Panevezys Branch Manager, a loan to purchase installations for the new plant in Utena was extended to the company with the aim of ensuring its further successful development.

“Ukio bankas took into account the fact that in order to satisfy growing market demands the company Utenos briketai needed not only a new plant but also state-of-the-art technological installations,” says Mr Liorentas.

Unlike many other briquette plants in Lithuania with different installations that are not adapted exceptionally for the production of briquettes, the new plant in Utena is the first specialised plant intended for the production of these particular products.

Ukio bankas is Lithuania’s first commercial bank having provided reliable services via its wide client service network, with more than 60 units all over the country, for a third decade already. Ukio bankas maintains close cooperation relationships with business enterprises by providing them with relevant financial solutions and proposals. The bank in particular focuses on small and medium-sized business and enterprises working in the regions of the country.