EU – Baltic States, Good for Business, Innovations, Latvia, Legislation, Technology, Telecomunications

LMT said that the consortium joins 14 unmanned, cyber security, sensor and other innovative solutions developers from Latvia, Estonia, Finland, Germany, Belgium, France and Spain.

Participation in European research and development projects allows LMT to participate in development of European innovation projects, create new, innovative technology projects for exports, cooperate and develop partnership with international companies.

"Today, cyber security solutions are as important defense aspect as physical state borders," said LMT president Juris Binde.

Defense Minister Artis Pabriks (For Development) said that Latvia's participation in the project will promote defense and security industry cooperation with leading military industry companies, and will allow the National Armed Forces to cooperate in development of innovative technologies, testing and adapting them for Latvia's needs.

As reported, LMT in 2019 generated EUR 186.099 million in turnover, up 6.4 percent from a year ago, while the company's profit rose 9.3 percent to EUR 30.566 million.