iCotton

SIA “iCotton”, founded on November 24, 2011, is a manufacturing company whose main activities are the production of wet wipes, cotton swabs, moisture-absorbing nappies, cotton wool discs, and production of non-woven material. Currently, SIA "iCotton" is one of the largest manufacturers of cotton and personal care products in the European Union with one of the most modern factories in Europe. The company currently employs 105 people in two plants in Liepaja, and it is planned to complete the construction of the new plant in Liepaja by the end of 2020, investing additional 6,5 million EUR and creating more than 65 new workplaces. So far, the company's total investments amount to 12.5 million. EUR. The company also expects to increase their turnover next year by 80%, reaching 45-50 million EUR.

SIA iCotton production plant is located in a geographically advantageous place in Latvia’s port city Liepaja. The Port of Liepaja does not freeze in winter and provides an opportunity to supply raw materials for production, as well as transportation of finished products to other European Union countries all year round.

In addition, the port is being actively developed and in recent years the railway infrastructure, road and rail access to Liepaja port has been renewed. The Liepaja Special Economic Zone (LSEZ) provides companies that have set up their own production facilities in this area with the opportunity to receive tax benefits and other support.

The attractiveness of the business environment is created by measures aimed at simplifying the existing administrative procedures and improving the legal framework in the specific geographical area. Latvia has low legal barriers to the market and the availability and quality of public services required.

Origin country: Investments from Russia
In Latvia since: 2011
Number of employees (2020): 105
Total investment in Latvia: 12 500 000 EUR
Website: icotton.eu/

 

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