Electronics Production | June 30, 2008
Kitron plans to double in Lithuania
The Norwegian EMS-provider Kitron plans to buy a factory in Lithuania. Kitron already operates this facility and rents the plot of land (Taiko 151).
Kitron has concluded a deal to acquire a factory and the underlying land lease in Lithuania for EUR 3.4 million from a group of Irish investors. The property is called Taikos 151 and is the same at which Kitron is currently conducting its operations. This investment is in line with Kitron’s strategy to increase its production capacity in Lithuania. The plan is to develop the property and double the floor space from today’s approximately 5000 m2 and substantially increase the production capacity within the next few years.