Arginta Engineering invests in the Panevezys FEZ
By 2023, Arginta Engineering UAB intends to construct, in the Panevėžys free economic zone, a factory with up to 100 jobs in the first development stage and with up to 300 in the following few years. New jobs will be created for programmable machine operators, welders and production workers of other professions as well as apprentices.
EUR 15 million are planned to be invested in the construction of the new factory including EUR 5 million in Stage 1. Three development stages are projected. The estimated area of Arginta Engineering’s factory is 15,000 square metres. Modern production, office and amenity premises will be fitted out.
For the convenience of employees, a new parking lot for both conventional and electric cars, with charging stations for the latter, will be provided at the factory.
The company has stated that the new production building will be used for the manufacture of intermediate products to be supplied to factories in Finland and Vilnius where finished products will be assembled and tested. Equipment produced by the company will be continued to be designed in Vilnius.
Arginta Engineering provides the services of producing equipment and machines for world-renowned companies. Approx. 400 people are employed by the factories in Lithuania and Finland. On completion of all the development phases, internal production processes will be optimised and the estimated total turnover of both factories should reach EUR 60 million.