Baltijos Eukutecas Is Growing and Eyeing Lithuanian Clients
A subsidiary of Werner Wirth, a German electrical component manufacturer, Baltijos Eukutecas was founded in Klaipeda back in 2013. Last year, the company reached the 100 employee milestone and grew its income by 45%, to 2.11 million EUR. Baltijos Eukutecas mainly manufactures cable harnesses for electric cars, bicycles, and medical equipment. While the company enjoyed growing demand in Germany over recent years due to the growing demand for electric transportation, the company started working with Lithuanian clients as well back in 2018 and is hoping for further growth in the domestic market.
Werner Wirth, which was founded in Hamburg back in 1965, entered the Lithuanian market in the autumn of 2013 under the Baltijos Eukutecas brand. This decision by German management was made due to the great infrastructure and effective workforce found in Klaipeda.
Up to the middle of 2018, Baltijos Eukutecas was renting space from the Baltija Shipbuilding Yard, but made the decision to move the modern FlexStart building of Klaipeda FEZ due to growing manufacturing capacity and employee headcount. Currently, 101 people work at Baltijos Eukutecas and the Klaipeda-based company predicts revenue growth of at least 20% over its record-breaking result from 2019, which exceeded 2 million EUR.
Ina Vaicekauskienė, the CEO of Baltijos Eukutecas, says that sales have been historically taken care of by the German parent company, with the bulk of the company’s products going to BROSE, a German company, which manufactures electric bicycles. With that said, the Klaipeda-based subsidiary has full freedom to look for clients as well, so several Lithuanian names have settled in the company’s client portfolio as well, like Vejo projektai, a company which unites Lithuanian and German capital to manufacture Dancer electric buses, electric component manufacturer Etman, financed from Norway, and EPH Elektronik, based in Silute, which is financed by German capital and develops electrical engineering solutions.
“It is always better to diversify your client portfolio,” said I. Vaicekauskienė. “At the moment, only 6% of our total revenue comes from Lithuanian clients but we are hoping that this number will grow. We believe that our growth in the Lithuanian market should be heavily impacted in a positive direction by the Dancer bus manufacturing spurt, which is expected soon, but we are looking for other clients as well. We are capable of not only manufacturing products of the highest quality standards, which meet the most important ISO standards but also of helping our clients, consulting them on engineering matters during the course of product development, as well as performing testing, whether on our own or with the help of our parent company from Germany.”
According to the CEO, this is precisely what happened when working with the developers of the Dancer electric bus. The first wiring harness prototype was made with the help of Baltijos Eukutecas’ colleagues from Hamburg, while the next three protypes were developed by the Klaipeda-based company single-handedly. The company is very happy with the quickly growing automobile and electrical component industry in Lithuania; however, Baltijos Eukutecas has valuable experience and proposals for Lithuanian companies working in the medical equipment, laser printer, plastic product casing, microchip soldering, and other markets.
Baltijos Eukutecas is one of the four German capital-based companies operating out of the Klaipeda FEZ. German capital in the FEZ is also represented by Vejo projektai, HeidelbergCement, and REHAU, a polymer manufacturing giant, which has announced its plan to invest in the FEZ this February.
Source: Klaipeda Free Economic Zone