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Tuesday, 23.04.2024, 23:13
Lithuania should benefit from GE's acquisition of Advantec
BC, Vilnius, 09.11.2015.
Print version
Print versionUS engineering giant GEneral Electric (GE) has purchased Norway's subsea intervention equipment and services provider Advantec, whose subsidiary operates on the Klaipeda Free Economic Zone (FEZ), the business daily Verslo Zinios reported on Monday, cites LETA/BNS.
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"GE is coming to Lithuania through the acquisition of a company that has a subsidiary operating in our country. This brings us into the field of vision of the US engineering giant and gives us more opportunities to attract other investments," it quoted Eimantas Kiudulas, CEO of the Klaipeda FEZ management company, as saying.
Advantec next year plans to launch construction on a new 4,000-square-meter building next to its existing plant on the Klaipeda FEZ, with around 4 million euros to be invested in the new administrative and production premises.
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