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© Invest Lithuania Electronics Production | April 26, 2018

Cable manufacturer sets up shop in Lithuania

Baltijos Eukutecas, Lithuanian entity of German cable manufacturer Eukutec, will invest EUR 1.5 million in its new production operations in Klaipeda FEZ.
Initial plans call for 80 specialists to be employed at the new facility; but this number is said to increase to 100 in 2019, a press release by The Lithuanian Investment Promotion Agency 'Invest Lithuania' reads.

“We are relocating here because of the attractive business environment and the space and flexibility there is for us to grow,” explains Baltijos Eukutecas’ CEO, Ina Vaicekauskiene. The company has already factored in plans for growth. “We will grow our team to 80 employees once we launch in Klaipeda FEZ and are looking to employ another 20 next year.

Baltijos Eukutecas is the 3rd new company to invest in Klaipeda FEZ this year, and to date, EUR 15.5 million worth of investments have been announced in 2018. Baltijos Eukutecas’ arrival will also add further momentum to the development of the automotive sector in Klaipeda: "Baltijos Eukutecas is already an active supplier for one Klaipeda FEZ based company – the electric bus producers Dancer Bus", points out Eimantas Kiudulas, CEO of Klaipeda FEZ. “Hence, we see a great synergy developing in the supply chain for electric vehicle components within the FEZ."

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September 20 2018 3:35 pm V10.9.6-2