According to ERR, the investment, supported by the Estonian government, is to consist of a 10,000-square meter factory extension and new equipment. Work already commenced in July 2019 and is scheduled to be completed within a year, the company says.
“I am happy to announce the start of the extension after intensive preparations and good co-operation with Narva city government, construction company Rand and Tuulberg, engineering company Esplan, project management company HML, Swedbank Estonia and Fortaco’s team in Narva. The extension is a critical platform to further support our customers by offering steel fabrication capacity based on high degree of automation and strong operational excellence. We believe this investment is also an important economic step in the city of Narva and it re-enforces the long relations that Fortaco’s Narva factory has in the region”, says Lars Hellberg, President & CEO of Fortaco Group.
“In the past two years, the business has developed well for Business Site Narva. To meet the growth in demand, Fortaco has also invested in several large CNC machines and welding robot stations at the existing factory, and 200 new employees have been added to the Narva factory team. The new extension will offer additional jobs up to 50 employees”, says Larissa Shabunova, Managing Director of Fortaco Estonia OU.
Fortaco’s factory in Narva offers the world’s leading OEM customers manufacturing capabilities including steel fabrications used for various lifting applications and mobile equipment components. Fortaco’s steel fabrication footprint covers five modern factories with best-in class equipment in Estonia, Finland, Hungary and Poland.
“Estonia, especially the Eastern part, has a strong history in steel and metal works. The industry is well-developed, high-tech and has a lucrative location between East and West, therefore attracting a variety of foreign investors who demand high quality, precision and timeliness,” explains Nele Rogenbaum, director of regional business development in East Estonia at Estonian Investment Agency.
Estonia has a collaborative ecosystem for Industrial R&D including academia, accelerators and competence centres. Supported by world-class expertise and a highly competitive, digital environment, Estonia is the ideal location for Industrial product and technology R&D.