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Friday, 19.04.2024, 06:34
India's Tonbo Imaging setting up unit in Lithuania
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The company plans to establish a research and development team of over 50
specialists in Lithuania's second-biggest city of Kaunas, the government's
foreign investment promotion agency said in a press release.
Arvind
Lakshmikumar, the founder and CEO of Tonbo Imaging, said that "Lithuania was a natural choice for
us given its reputation as a hub for optics research and technology, local
talent and economic dynamism".
"This, combined with the Lithuanian government's strong support for
new initiatives made the country an ideal location," he was quoted as
saying in the press release.
Lithuanian Economy Minister Virginijus Sinkevicius noted that
"local companies make up the core of the Lithuanian laser industry, and
foreign direct investment projects in this sphere are rather rare".
Tonbo Imaging has
engineering development centers in Singapore, India and the US.
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