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New FEZ Brest resident to invest €25m in furniture production

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BREST, 10 June (BelTA) – A new economic entity, Polipol Mebel Bel, has been registered in the free economic zone Brest, BelTA learned from the FEZ Administration.

The new resident is a part of the German holding company Polipol, a well-known manufacturer of upholstered furniture on the European market. To expand its business, the company intends to use the industrial site in Ivatsevichi, which was made part of the FEZ in April 2020. Plans are in place to use the site of 24.5 hectares to build a workshop for the production of upholstered furniture and other facilities to ensure the production process.

According to the business plan, the project will be implemented within six years. Over the time the company intends to invest over €25 million in furniture production and create more than 1,000 jobs. Some 90% of the products will be exported.

Polipol Mebel Bel became the third economic entity of FEZ Brest registered in 2020. Now 73 residents work in the free economic zone, including six companies with German capital. Entrepreneurs from Germany top the list in investment, accounting for more than 33% of the total.

Polipol Produktions Verwaltungs GmbH has been producing and selling upholstered furniture for 30 years. Polipol has its furniture factories in Germany and other European countries. Currently, the German holding company includes ten enterprises employing over 7,000 people.

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