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22nd September 2017, Lithuania

Germany's Visiotex is coming to Lithuania

Visiotex has announced its plans to invest in Lithuania's second-largest city Kaunas. Germany's technical textiles company Visiotex, has announced its plans to invest in Lithuania's second-largest city Kaunas, Verslo Zinios business daily reports.

The investment has not yet been discussed by the German-Baltic Chamber of Commerce or Invest Lithuania governmental investment promotion agency, however, the company's CEO Friedrich Roell confirmed the plans of manufacturing technical textiles in Lithuania.

"For now, it is only clear that we plan to open a factory and that it will be in Kaunas. We are preparing for a meeting of the company's advisory council, which will decide on the size of the investments, therefore, I cannot give any numbers yet," he said.

According to Verslo Zinios, Swedish-capital company ROL Group, which owns Statga company in Lithuania, intends to build a new factory in Siauliai and invest EUR 11.9 million. The smart factory should have 10 highly-qualified specialists, in addition to 415 people currently employed by Statga.

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