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Continental factory construction works have started in Kaunas Free Economic Zone

Continental factory construction works have started in Kaunas Free Economic Zone

Construction works of the factory belonging to German company Continental that manufactures electronic components were officially started in Kaunas Free Economic Zone with a capsule burial ceremony on Friday, July 20. It is the largest foreign investment in the Lithuanian history. It is planned, that the factory covering the 22 thousand square meters will be finished next August and it will employ a 1000 people in five years.

“We have turned from a country of cheap labor into the center of skilled workforce, innovation, modern production and technology. The fact that such German industrial giant like Continental is choosing Lithuania is not only an important evaluation for us, but a signal to other foreign investors: we are a safe and business-friendly country,” said Dalia Grybauskaitė, President of the Republic of Lithuania when addressing the people present in the ceremony. The leader of the country noted that Lithuania’s partnership with Germany is flourishing in many areas – from politics and military to economics. She also emphasized that Lithuania cares not only about the scale of investments but also their quality.

“Due to the competitive labor force, excellent industrial infrastructure and higher education institutions preparing various qualified specialists, foreign and Lithuanian investors, who are looking for qualified workforce and favorable business environment, are increasingly choosing Kaunas. The appearance of such innovative factories like Continental, establishes Kaunas as the undisputed center for industrial, electronics and automation manufacturing center,” says Vytautas Petružis, the head of Kaunas Free Economic Zone.

The subdivision of Continental in Kaunas (the company will invest 95 million euro in it) will produce components for passenger safety and smart driver assistance: door and seat control elements, smart window systems, sensors and radars for systems like autonomous cruise control system (ACC) or emergency brake assist (EBA).

According to the head of Continental electronic components factory Dr. Hans-Jurgen Braun, the automotive electronics market is growing at an extremely fast pace, so the new Continental plant in Kaunas will complement the worldwide network of 30 factories and help increase production capacity and meet the ever-increasing demand for such products.

Founded in 1871 in Hannover, Germany, Continental is among the world’s 5 largest automotive suppliers in the world, producing braking systems, powertrain and chassis systems and components, measuring instruments, informational-entertainment solutions, automotive electronics, tires and technical elastomers. The Continental subdivisions operating in 56 countries around the world employ 227 thousand workers. Company’s sales revenue in 2017 amounted to 44 billion euro.

 

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