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International Internet Magazine. Baltic States news & analytics Friday, 30.10.2020, 21:37

Optics manufacturer Yukon to invest in 'safe' areas in Lithuania

BC, Vilnius, 04.08.2020.Print version
Yukon Advanced Optics Worldwide, a Lithuanian producer of digital night vision and other optical devices that is owned by Belarusian, Russian and Ukrainian citizens, has founded a new company for investment in undisclosed business areas, informs LETA/BNS.

Yukon Advanced Optics Worldwide CFO Laurius Kairys says the parent company's profits will be invested in "safe and transparent areas".

"The investment portfolio will be diversified both by asset classes and directions. Management will be entrusted to a selected external organization," he told BNS in a comment.  

Yukon Investment Company, the new company, was registered in July with an authorized share capital of 30 million euros and Alexander Olshevsky as its CEO. 

Olshevsky, a Belarusian citizen, is the largest shareholder of Yukon Advanced Optics Worldwide. 

According to Belarus' media, Yukon Advanced Optics Worldwide controls about 60 percent of the global night vision device market. Its main plant, Beltex Optic, is based in Lida, Belarus. It was founded by Olshevsky in the 1990s. 

Yukon Advanced Optics Worldwide has posted 87.5 million euros in revenue for 2019, a rise of 6 percent from 2018. Net profits rose by 5 percent to 24.2 million euros. 

The company derives most of its revenue from the EU and US markets. Its products are sold in more than 70 countries around the world.  

Yukon Advanced Optics Worldwide owns manufacturing, sales and service companies in the United Kingdom, China, Russia, Ukraine and Belarus. They employ a total workforce of around 1,000 people, including almost 200 in Lithuania. 

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