Austria’s HEAD International Holding GmbH, the subsidiary of Head UK Ltd, plans to invest EUR80 million in the construction of its “new largest plant” in the territory of Vinnytsia industrial park, First Deputy Prime Minister, Minister of Economic Development and Trade of Ukraine Stepan Kubiv said after a meeting with the company representatives.
“The project in Ukraine will be implemented in three stages: in 2019-2020 there will be the construction of 1-1.5 hectares of new production facilities. It is planned to attract about 200-300 people,” he wrote on Facebook.
According to the official, in 2020-2021 it is planned to build an additional 1-1.5 hectares of new production facilities and create jobs for 600 people, and during the last third stage in 2022-2023 to build another 1.5-2 hectares of new production facilities and expand the working staff to 1,000 people.
Kubiv added that after the completion of the last stage of the project, HEAD plans to annually spend about UAH 150 million on wages for workers.
“After the successful implementation of the project, the company will also consider the possibility of transferring some of its teams in the field of digital technologies or IT to Vinnytsia and moving additional production facilities to Ukraine,” he said.
Head UK Ltd. is one of the world’s leading manufacturers and sellers of sports equipment and clothing. The company’s business includes five divisions: winter sports, racket games, diving, sportswear and licensing. The trademarks of the company are HEAD, Penn, Tyrolia, Mares, SSI, and rEvo.