Furniture "Lagado" on Russian market

Fund for Development of Serbia has approved credit of 55 million CSD to the factory of leather furniture sets "Lagado" from Bujanovac for construction of new unit and the works can finally start. The contract with the Fund provides 40% of the value of the proejct – the total investment amounts to 137 million CSD and the major part are the means of "Lagado".

The project includes hall of 2,000 square meters equipped for cutting of sponge and design of wooden frames for sets, with the warehouse. THe unit should be finished in mid-2006.

"Lagado" can now make plans for stronger penetration of market of Russia, which should become one of its leading foreign trade partners in the following years. It is believed that furniture sets worth at least €1m are sold every year in Russia.