SBA Group to invest nearly EUR 68mn in US factory

SBA Group has said it will invest around USD 70 million (nearly EUR 8 million) in its first furniture factory in the United States in the initial stage. The factory is expected to become operational at the end of 2025, the group said in a press release on Monday.

"The SBA project will create more than 250 high-skilled jobs and will give a positive impetus for the region. We are now starting to adjust the 46,000-sq m building for production," said Jurgita Radzevičė, head of SBA Home, which unites 4 SBA furniture manufacturing companies in Lithuania.

The SBA factory will be located in North Carolina on the US east coast. The decision was driven by the strategically attractive logistics infrastructure, location of raw material suppliers, skilled workforce and the investment climate that is favourable to global companies, Radzevičė said.