Lego to build $1 billion factory in Virginia to cater U.S. fanbase

Lego, the largest toy maker is building a factory in Virginia USA, to be able to cater to its largest market.

AP
Lego is the largest toy maker in the world and they plan to continue to hold onto their share with this new plan unveiled by the company. Lego decided to build a large factory in Virginia USA, to be able to cater to its ever-increasing market demands. Sales have increased by more than 30% since last year and profits have doubled.

The plan is to build a 1.7 million square feet factory adjacent to a solar park so that it is able to achieve its carbon-neutral target as a strategic plan. The solar park would be able to supply part of its power requirements. This plant will cost a billion dollars in investment and would be able to provide 1800 people work. This is the 7th factory of Lego to come up worldwide with one each in Mexico and Vietnam and the rest in Europe. Lego is also in the process of expanding its existing factories in Europe.

Lego however is not new to the USA, where it already has more than 100 of its retail outlets, providing 2500 jobs there. Earlier the Lego factory in Connecticut which had closed in 2006, was catering to the markets in the USA, where it has been in business since the 1960s.


As per the plans, Lego tries to have factories close to their markets so that travel time is reduced. USA is one of Lego's biggest markets as per their CEO, Niels Christiansen. The construction is about to commence at the end of this year with production planning to begin within 2025.

Lego is still a family-owned business and was founded in 1932 by Ole Kirk Kristiansen in Billund, Denmark. The headquarters are still located in Billund.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › International › US News › Lego to build $1 billion factory in Virginia to cater U.S. fanbase
Text Size:AAA
Success
This article has been saved

*

+