Arginta Engineering UAB operations in the Panevėžys Free Economic Zone

According to Arginta Engineering UAB’s estimates for 2023, consolidated income of its factories in Vilnius, Lithuania and Outokumpu, Finland would reach EUR 61 million, and EBITDA (earnings before interest, tax, depreciation and amortisation) would be EUR 4.5 million. 

In 2024, the company will focus on its new factory in Panevėžys FEZ the opening of which will take place in March. It plans to employ and train over 50 people at the enterprise in the free economic zone. According to Tomas Jaskelevičius, Arginta Engineering’s CEO, in recent years the company increased its production volumes considerably including the largest order in its history – an equipment sale to a major liquefied gas project at the shores of Western Australia. 

Tomas Jaskelevičius notes that the last year also saw significant challenges due to rising interest, which has had a direct impact on the company’s development.

  
In January 2024, the company moved to new premises within Panevėžys LEZ after investing over EUR 8 million in the first construction phase and employing over 60 people. 

Upon split-up of Arginta Group in April 2023, Arginta Engineering became an independent group with operations in Vilnius, Panevėžys and Finland. Tomas Jaskelevičius is positive that 2024 will bring even better results, with the projected EBITDA growth of about 10%, and an approx. 15% increase in value added.