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International Internet Magazine. Baltic States news & analytics Friday, 26.04.2024, 22:05

Intersurgical to invest another EUR 20 mln in Lithuania's Pabrade

BC, Vilnius, 23.10.2018.Print version
Intersurgical, an international producer of medical products, operating in Pabrade, Svencionys District, northern Lithuania, plans to expand and invest over 20 mln euros into the construction of a new automated storage facility for disposable medical breathing systems, informed LETA/BNS.

According to Sigitas Zvirblis, CEO at Intersurgical, told the new warehouse will be the first highly-automated storage facility in the Baltic states.

"The project is focused on technology providing higher added value. Currently, we have many employees and want to make use of the existing resources more effectively. Automation is mostly used to make these processes more effective and productive," Zvirblis told.

In his words, equipment for the new facility will be provided by Spain's Metalux, and it will be built by Lithuanian companies, with the new facility scheduled to be completed by the end of the next year.

Besides expansion in Pabrade, Intersurgical also plans to build a production facility for at least 10 mln euros in Visaginas where former and existing employees of the Ignalina nuclear power plant, now being decommissioned, live.

"All in all, we plan to invest up to 50 million euros in Pabrade and Visaginas this and next year," Zvirblis said, adding that the company plans to expand production and introduce new technology.

Around 99% of Intersurgical's products are exported to over 100 countries, including European countries, the United States, Japan, as well as Asian and African countries.

Intersurgical posted 100 mln euros in revenue last year, up 5.4% from 2016. Net profits dropped 25.4% to 5.1 mln euros. Exports rose 5.4% to 99.2 mln euros.

Lichtenstein-based Intersurgical owns 100% of the company in Lithuania.





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