Key combinations given apply to Internet Explorer + Enter and Safari browser. If your browser is Firefox, use Alt + Shift + letter. Use combination Shift + Esc + letter for Opera, and Ctrl + Alt + letter or number for Mac'OS.
Interview with Ilja Laurs, founder and CEO of GetJar
Lithuania is world-known as a country of mobile innovations.
Interview with Kolbjorn Midttun, CEO of Mirror Accounting
Proximity to Nordic markets, availability of educated people, and competitive salary rates map Lithuania among the most attractive countries to invest.
Interview with Christopher Butler, Managing Partner of PricewaterhouseCoopers and Board Chairman of British Chamber of Commerce
Location, people, and costs are Lithuania’s main advantages.
TERMO FISHER SCIENTIFIC
THERMO FISHER SCIENTIFIC – In May 2010 the world leader in serving science Thermo Fisher Scientific Inc. announced the acquisition of a Lithuanian manufacturer and global distributor of enzymes, reagents and kits for molecular and cellular biology research Fermentas for almost EUR 183 million. With headquarters in Burlington, Ontario, and principal operations in Vilnius, Lithuania, Fermentas is now integrated into Thermo Fisher Scientific’s Analytical Technologies Segment. Capital investment has reached EUR 202.7 million. With revenues of more than EUR 7 billion, Thermo Fisher Scientific employs 35,000 employees worldwide and serves customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as in environmental and process control industries. The company has an ambitious goal to create 1.1% of Lithuania’s GDP in 2020.
IDEAL INVENT
IDEAL INVENT - The Indian company IDEAL INVENT Technologies Pvt Ltd, specializing in information technologies (IT) in the banking sector, in 2010 established a Scientific Research and Technology Development (SRTD) Centre in Lithuania. IDEAL INVENT Technologies SRTD Centre started its operations in Vilnius in the Sunrise Valley Science and Technology Park. The company intended to invest nearly EUR 1 million and employ 110 people in the coming 3 years. The Centre will provide services for banks, financial services and insurance companies. The Centre will be instrumental in developing a “Payment Grid” to enable banks to participate in local payments across 40+ countries as part of our B-SaaS offering. All R&D activities for B-SaaS offering including local interfaces for specific countries, and pre-packaged processes and business analytics for banks will be handled in the Centre in Vilnius.
COCA COLA
COCA COLA – Coca-Cola HBC Lithuania has been operating in Lithuania since 1994. In 2000 the company implemented an investment of EUR 1,3 million building a new bottling line in Coca-Cola Alytus plant. In 2006 & 2007 company did expand the capacity and invested over EUR 4 million in equipment and in building expansion. Currently, Coca-Cola HBC Lithuania has its representative office in Vilnius and operates several sale and distribution centres in Lithuania's biggest cities – Vilnius, Kaunas, Klaipeda, Panevezys. In May 2010, CCHBC closed its production facility in Estonia and transferred production of PET bottles to Alytus. The project value was estimated at EUR 2 million. As a result of the project implementation, almost 20 jobs in our facility were created (more jobs for suppliers of services and goods).
KRAFT
KRAFT – Company has entered Lithuania in 1993 by acquisition of Kaunas confectionary plant. Today, Kraft Foods is one of the leading food companies in the Baltics. Based in Kaunas, the company manufactures high quality chocolate confectionery products under the brand name Karuna, the best known brand in Lithuania for many years. Kraft Foods is an importer of Europe’s favorite coffee - Jacobs Kronung from Germany. In 2007, Kraft Foods acquired its biscuit business from Danone and enhanced its portfolio with high quality snack products. In 2008, Kraft Foods sold its Estrella business to a Norwegian private equity fund. Currently, Kraft Foods’ headquarters in Kaunas manages sales and marketing activities in all three Baltic states. Total investment exceeds Euro 24.3 mill. Company integrates 140,000 diverse employees around the world.
MARS
MARS Lietuva, a subsidiary of Mars, Inc., produces pet care products such as dog sausages under brand names Pedigree and Chappi, and cat food under brands including Whiskas, Kitekat, and Brekkiesy since 1993. Mars Lietuva petfood manufacturing plant and the company’s head office is located in Gargzdai, a small town in the West of Lithuania, 15 km away from Klaipeda. In 2003, the company has announced its another investment project in Lithuania, while a new line of cat food was launched. Project value – EUR 26.43 million, and as a result, 181 jobs were created. Today Mars Lietuva employs more than 900 specialists and is the largest pet food manufacturer in the Baltics. The factory’s annual output reaches 100 000 tonnes. Lithuanian manufacturing plant‘s production is supplied to more than 20 countries in Western and Central Europe and the CIS. Company‘s Sales and Marketing division is based in Vilnius.
TEVA
TEVA - Teva Pharmaceutical Industries (Israel) has acquired the Lithuanian enterprise of biotechnological pharmacy UAB Sicor Biotech in 2006. Now the company produces recombinant proteins for medical use (interferon alpha-2b, human growth hormone, granulocyte colonies stimulating factor, erythropoietin). It is the only factory of such a profile in Eastern and Central Europe. Company has a strong and very well-equipped research centre, developing technology for the production of recombinant proteins. The company has notably introduced a 25-35% cheaper but just as effective version of an existing medicine for treating cancer to the world market.
DSV TRANSPORT
DSV TRANSPORT - With a 12,000 sq m terminal, offices in Vilnius, Kaunas and Klaipeda, and a solid network of business partners, DSV Transport UAB, a subsidiary of the largest Danish transport and logistics group, is one of the largest providers of transport and logistics services in Lithuania. Due to Lithuania’s favorable geographic location and excellent infrastructure, Lithuania’s DSV has been successfully expanding its activities.
STOREBRAND
STOREBRAND – The Storebrand Group, with roots back to 1767, a leading player in the Nordic markets for pensions, life and health insurance, banking and asset management came to Lithuania in 2007. Following the acquisition of the Swedish life insurance and pensions provider SPP in December 2007, Storebrand is now the Nordic region's leading provider of life insurance and pensions. Today UAB “Storebrand Baltic” has 120 employees. Also, in 2008 Evoco Financial Production Services, the joint venture of Lindorff Accounting AS and Storebrand Bank ASA, was created in Lithuania. The two parties established a company, which will provide back office services for Storebrand Bank, principally in concerning the processing of loan applications. Today the company has a staff of 30 employees.
ALBRIGHT INTERNATIONAL
ALBRIGHT INTERNATIONAL - Albright International, the manufacturer of the most popular and extensively used solenoid switches throughout the world, founded in 1946, entered the Lithuanian market and opened a factory UAB Albright Lietuva in Klaipeda FEZ in 2008. Project investment amounted to Euro 10.28 mill, 145 jobs were created. Now Albright has been profitably manufacturing its production in the Klaipeda FEZ, which offers special business operation conditions. The production has been 100 % exported to the USA and Western European countries.
CIE AUTOMOTIVE
CIE AUTOMOTIVE - CIE Automotive, a global full service supplier of components and subassemblies for the automotive market (VW, Renault, General Motors, Ford, PSA, Continental etc.), employing more than 12,000 people worldwide, established a company with a staff of 100 in Lithuania in 2007. CIE Automotive in Lithuania has been successfully manufacturing automotive parts for exports. In 2009 the company has announced an additional EUR 23 million investment in the coming five years at its branch in Lithuania. As a result, 200 new jobs will be created. Also, the company is going to increase the assortment of production.
MIRROR
MIRROR, a leading European provider of debt-related administrative services to banks, insurance & finance and telecom & utilities companies, retail and SMEs in the Scandinavian countries, Germany, the Netherlands, Russia and the Baltic States, started its activities on the Lithuanian market in 2002. LINDORFF evaluated the high quality of Lithuanian human resources as well as low business operation costs, and now has a team of more than 30 people in Lithuania.
CITCO
CITCO, a group of companies specializing in the global financial services industry (business solutions, fund services, banking and custody) for over 65 years, and employing over 4,200 people worldwide in 37 countries, opened its office in Vilnius in 2007. Today CITCO VILNIUS employs 80 employees who provide accounting and corporate legal services to the top class international clients, especially in the fields of real estate investment funds and multinational companies. CITCO VILNIUS expands rapidly and plans to expand its staff to 120 in near future.
COMPUTER SCIENCE CORPORATION (CSC)
COMPUTER SCIENCES CORPORATION (CSC) - The global leader in IT services, employing 91,000 professionals around the world, Computer Sciences Corporation (CSC) of the United States, entered the Lithuanian market in 2008. Lithuania was selected by the company as the geographically best place for the expansion of business in the Baltic Sea Region. Also, Lithuania was evaluated as the country maintaining very close and successful business relations with Northern European countries. Investment amounted to Euro 11.27 mill. Now there are more than 200 employees in the representative company based in Vilnius.
TRANSCOM
In 2002, TRANSCOM, Global outsourced service provider focused on customer management; contact centre, entered Lithuania. Since then TRANSCOM has expanded to 690 employees who provide professional customer relations management services and information for many international companies in a multitude of industries in Lithuania, Estonia, the UK, Germany, Ireland, other European countries, and the US in all Baltic & Russian, English, German, French, Italian, Spanish, and other languages.
MOOG
In 2009, MOOG MEDICAL (Subsidiary of Moog) (United States) has acquired a 100-percent holding of the Lithuanian company “Viltechmeda“, a company that manufactured, sold and repaired medical equipment, devices for infusion and syringe pumps. In 2010, the company has announced its plans is to invest another Euro 4 mill in Lithuania in the near future, to establish a service centre and expand its research and technology branch. The centre will employ 50 Lithuanian professionals in the science and business valley “Santara” located in the capital city. The centre will focus on the development of medical technologies and innovations.
PHILIP MORRIS
PHILIP MORRIS Lietuva - World’s largest international tobacco manufacturer (excl. PRC), headquartered in New York City, today PMI is one of Lithuania’s top 10 and the only tobacco manufacturer in the Baltic countries. In 1993, the company won the first international privatization tender in Lithuania and in 1993 building of the new cigarette manufacturing facility was started (operates since 1997). The investments in Lithuania made by PML since 1993 exceed EUR 100 million. Now more than 450 employees work within the company in Lithuania.
IKEA
IKEA - Lithuania has been one of the main wood and furniture suppliers for IKEA, one of the world’s largest home furnishings companies, operating 165 stores in Europe, North America and Asia and sourcing products from approximately 1,600 suppliers in 55 countries. In 2005, IKEA has established an administration center for its European operations in the second largest Lithuania`s city of Kaunas, creating 40 jobs. Euro 1.28 mill were invested into the project. In 2008 IKEA made an investment into one of the largest furniture factories in Lithuania to further develop the company’s business in the Baltic Sea Region. Project cost amounted to approx. Euro 72.4 mill.
DFDS SEAWAYS
DFDS SEAWAYS - In 2001, the Danish company DFDS Tor Line A/S purchased 76.36 % of shares in LISCO from the state for a total of EUR 53 million and pledged to invest a sum of EUR 67 million in the shipping company. In 2010 Company’s name was changed into DFDS Seaways. Today DFDS Seaways is one of Europe's leading ferry and mini-cruise providers. Its ferries and cruise-ferries operate between Copenhagen and Oslo, on the North Sea (Newcastle-Amsterdam and Harwich-Esbjerg), English channel (Dover-Dunkirk), and the Baltic Sea (Klaipeda-Kiel/Karlshamn/Sassnitz). In Lithuania, DFDS is topping the list of the country’s top airfreight forwarders.
INDORAMA
INDORAMA - At the end of 2004, one of the world’s largest plastic products manufacturers, INDORAMA of Thailand, started construction of the Orion Global PET, a major high-tech PET granule manufacturing plant in the Klaipeda Free Economic Zone. Now the company operates a high-tech PET granule plant with capacity of 150,000 tons per annum. Until the founding of the plant in Lithuania, Indorama Group controlled 12% of the world’s plastic packaging raw materials. The new factory in Klaipeda increased the company’s market share to around 30%. The project investments amounted to Euro 86 mill. As a result, 120 jobs were created.
IBM
IBM - In September 2010 the multinational computer, IT and technology corporation IBM and the Government of Lithuania signed a 5-year agreement to carry joint IBM’s and Lithuanian scientists’ research.
In mid-May 2011 IBM and Swiss Federal Institute of Technology of Zurich (ETH Zurich), a premiere European science and engineering university, opened a Binnig and Rohrer Nanotechnology Center, located on the campus of IBM Research – Zurich (Switzerland). At this new state-of-the art nanotechnology centre in Zurich Lithuanian scientists will focus on integrated photonics and novel photonic materials to create faster computers, improved solar technologies, and nanopatterning security tags for advanced anti-forgery technology. IBM will collaborate with scientists from Vilnius University, Kaunas University of Technology and Centre for Physical Sciences and Technology.
Lithuania and IBM will share equal rights to the intellectual property, and R&D commercialization, such as patents, IP licenses, products and prototypes that result from the center's activities.
Also, IBM's centre in Haifa, Israel, will as well partner with Lithuanian scientists on a variety of healthcare projects that will aim to provide a better understanding of how to diagnose, and treat life-threatening diseases, such as cardiovascular disease.
RGE ENGINEERING
RGE ENGINEERING - a privately owned UK company specializing in the design and manufacture of a variety of plastic components and operating not only in the UK, but also in China, the US and Portugal, entered Lithuania in 2007. Company established a manufacturing site in Northern Lithuania for the design and manufacture of plastic parts for large-scale furniture and appliances producers. RGE ENGINEERING selected Lithuania for its central, advantageous location in the Eastern European region for further expansion of business. Company’s capital investment amounted to EUR 14.03 million, and as a result, 100 jobs were created.
BLRT GRUPP
BLRT GRUPP - In 2001 the Estonian BLRT Grupp purchased the main holding of shares of a Lithuanian ship repair company Vakaru Laivu Remontas in Klaipeda and started the the company’s reconstruction. Today Vakaru Laivu Gamykla is a multi-profile, dynamically developing company, which consists of 19 subsidiaries. During these years considerable investments in production development and improvement of competitiveness were made. In 2010 the purchase transaction of AB Baltija Shipbuilding Yard and UAB Baltic Engineering Centre was completed by BLRT Grupp. BLRT Grupp acquired 99.18% of shares of Baltija Shipbuilding Yard and 100% of UAB Baltic Engineering Centre shares from Odense Steel Shipyard, which belonged to A.P. Moller-Maersk Group. Now BLRT Grupp is a multi-profile concern with a well-developed modern structure and active participation in the Estonian, Latvian, Lithuanian, Finnish, Norwegian and Russian markets incorporating 65 companies.
DEMATIC
DEMATIC - German-based company, a global leader in logistics automation equipment supply, launched its engineering office in Lithuania’s industrial centre Kaunas in 2007. The biggest technical university in the Baltics is located in Kaunas, and, also, Lithuania’s proximity to one of DEMATIC’s major markets, Scandinavia, were strong factors influencing DEMATIC’s decision to select Lithuania. Other factors that had a significant influence were a well-developed infrastructure, air links, competitive costs as well as business-favorable labor market trends. This facility is now DEMATIC’s second engineering consulting office after the UK for the company’s activity in the Northern European area.
BARCLAYS
BARCLAYS - Barclays Bank (UK) established a Technical Support Centre in 2010 in the city of Vilnius. Company has already created almost 700 jobs. Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 147,500 people worldwide.
WESTERN UNION
WESTERN UNION - In May 2010, the US-based payment transfer firm Western Union Financial Services (subsidiary of First Data), opened its Global Operations Center of Excellence in Lithuania. The center in Vilnius is company’s third Global Operations Center. Within a year Western Union has hired almost 500 employees and intends to expand further.
Managing Director of INVEST LITHUANIA Mantas Nocius congratulated the global money transfer giant Western Union as Investor of the Year during the Lithuanian Business Leaders’ award ceremony in June 2011. The team of experts brought together by INVEST LITHUANIA nominated three investors in Lithuania for the award category of Investor of the Year. The winner Western Union was decided by the jury of the national business daily newspaper “Verslo žinios”.
Western Union has more than 410,000 agent locations in over 200 countries and territories around the world.