The new plant is expected to reach $8.2m (€7m) of turnover by the end of 2022 and potentially $23.44m in 2025. It is located at Šiauliai Free Economic Zone and is staffed with 40 employees, although this figure is set to increase to 100. The company has vowed to only purchase electricity from renewable energy sources at the site, which is equipped with a special heating system, using less than 15 kilowatt hours of energy per year per square metre.
Bär Cargolift has also announced it plans to establish an IT centre in Lithuania. It will focus on the development of engineering solutions for improving its products, which are primarily used to load or unload goods packed on pallets and cargo trolleys.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData