EU – Baltic States, Financial Services, Good for Business, Industry, Lithuania, Markets and Companies

The company said that the group's Mimaki Europe, a Dutch company, intended to establish a subsidiary in Lithuania and had already concluded a deal with Veika of Vilnius on takeover of part of its business.

Aleksejus Etinas, senior technologist at Veika, told LETA/BNS that Japan's Mimaki intended to purchase the business of digital ink production but refused to disclose the value of the part of the business up for sale.

Mimaki Engineering said the business it was buying had generated 2.5 mln euros in revenue last year, while operational profits stood at 500,000 euros.

According to data provided by the Center of Registers, 93% of Veika's shares are owned by its CEO Jakovas Etinas, while the rest of the stake is owned by the company. In 2015, its consolidated turnover stood at 15.3 mln euros and the net profit was 2.1 million euros. The Lithuanian company has four subsidiaries in Belarus.