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Lithuanian Danspin expects to take over orders from bankrupt competitors
BC, Vilnius, 21.04.2016.
Print version
Print versionDanish-owned Lithuanian carpet yarn manufacturer Danspin expects to close this financial year (205-2016) with a 10% revenue growth thanks to its ability to expeditiously carry out orders taken over from its financially-troubled competitors in Europe, the business daily Verslo Zinios reported on April 21st.
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Danspin CEO Rosvaldas Kunickas says that several yarn factories in Europe – in Britain, Belgium and the Netherlands – have gone bankrupt in recent years.
Also, UK-based carpet yarn manufacturers have decided to discontinue production and instead purchase yarn from the factory in Raseiniai, in central Lithuania.
Danspin has recently received a contract from Denmark's Dansk Wilton to manufacture 325 tons of yarn for carpets for four cruise ships over a period of two years.
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