The Board of Directors of GARO AB has agreed on an investment in a new production and logistics facility in Szczecin, in close proximity to the existing facility. The new facility space will be approximately 15,000 square meters and facilitate a considerable increase in capacity primarily in the GARO E-mobility business area, and also in the GARO Electrification business area. The project is planned to commence in the second quarter of 2022, and the facility is expected to be completed by summer 2023. The existing facility has sufficient production capacity until the new facility is operational. The total investment budget amounts to about MSEK 85.
Patrik Andersson, CEO of GARO comments: “We are seeing substantial growth , particularly in E-mobility. Szczecin in Poland is strategically situated for the rapidly growing European market, in addition to GARO’s main markets in the Nordic region. The investment will provide a considerable increase in capacity while we safeguard such aspects as the environment and sustainability. At the same time, we intend to continue to invest in GARO’s existing production units in Sweden that have a high level of efficiency.”