Good for Business, Innovations, Investments, Lithuania, Technology

International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 12:54

India's Tonbo Imaging setting up unit in Lithuania

BC, Vilniaus, 14.09.2018.

Tonbo Imaging, an Indian company that develops advanced imaging and sensor systems for defense, security and intelligent transportation systems, is setting up a unit in Lithuania with plans to invest 10 mln euros, informs LETA/BNS referring to the Invest Lithuania.

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.

Other articles: