Ąžuolas AB

The company was established back in 1889 as a sawmill which later on grew into a furniture factory. In 1992 Invalda acquired the controlling interest of this furniture manufacturer. By 1999 Invalda increased its interest in the company to 58.5 %, and the total investment into shares of Azuolas AB reached EUR 0.1 million. Later on, at the initiative of Invalda, the production facilities of the soft furniture manufacturer Azuolas were moved from the central location at Seimyniskiu Street to Visoriai region in Vilnius; then the site of the former furniture plant was used to construct a modern office building IBC, with the total area of office space of 24.6 thousand square metre. In 2000 the shares of Azuolas were sold to a strategic investor for EUR 0.6 million.