EU – Baltic States, Good for Business, Investments, Latvia, Technology

A highly-competent team of engineers and technicians, graduates of Latvian universities and colleges, has been assembled for the project, said Osmanis.

Venture capital investment company BaltCap invested money into the development of the new plant. EuroLCDs will make products with high added value, using the latest technologies and creating new jobs in the high-tech sector, which will foster young people's interest in engineering sciences, said BaltCap Investment Director Peteris Treimanis.

The prospective customers of EuroLCDs are European and U.S. companies that use high-quality liquid-crystal displays in their work. The company will also make glass for welding masks that will automatically adapt to light intensity, and other products.

The facility is 4300 square meters in area, and it is located in the territory of the Freeport of Ventspils. It was built by construction company Skonto Buve.

EuroLCDs plans to employ a staff of fifty at the new plant, and fifty more people could be employed in product distribution and administration of the plant.