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Wednesday, 24.04.2024, 19:34
Schneider invests EUR 10 mln into construction of new factory in Latvia
BC, Riga, 20.08.2014.
Print version
Print versionOne of the world's leading energy management companies Schneider Electric will invest about EUR 10 million into the construction of a new Lexel factory in Latvia, Schneider Electric spokeswoman in Baltics Santa Rutka informed the business portal Nozare.lv, cites LETA.
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The Lexel factory (official name Lexel Fabrika) belongs to the international corporation Schneider Electric and specializes in manufacturing electric-mechanical and electronic devices, including lighting control systems, thermostats, motion detectors, smoke detectors and light switches.
The company operates in Latvia since 1993, and currently offers work places for 180 employees. Lexel Fabrika turnover in 2013, was EUR 38.2 million, placing Lexel Fabrika among Latvia's top-earning companies.
The majority of Lexel Fabrika products are exported to Scandinavia and Germany, supplying other Schneider Electric factories with produce.
The construction works of the new factory began this past July, and are scheduled for finalization in 2015.
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