Hollister Incorporated, a US-based global manufacturer of medical devices and equipment, intends to open a new production site in Kaunas, Lithuania. The planned investment is approximately EUR 50 million with around 300 new jobs to be created over the next several years. The primary purpose of the investment is to meet demand in Europe, the agency Invest Lithuania informs.
“Kaunas is an exceptional location for manufacturers of medical equipment. Kaunas University of Technology and the Lithuanian University of Health Sciences boast valuable competencies and cooperation in the area of research, resulting in innovative inventions that put Lithuania on the world map and substantially contribute to the education of qualified specialists. The intention of Hollister Incorporated to open a production site in Lithuania may therefore become a serious impetus for the country’s medical equipment production sector,” said Mantas Katinas, Managing Director of the foreign investment promotion agency Invest Lithuania.
Headquartered in the US, Hollister Incorporated has manufacturing and distribution centers on three continents and company offices in more than 25 countries. Hollister Incorporated also sells its products in more than 80 countries around the world.
“The decision to have a production site in Lithuania is a strategic initiative for our company. It will allow us to build new capacity and better serve our customers, primarily in Europe, which already accounts for the majority of our sales. We look forward to working with the Lithuanian government and implementing this project in Kaunus,” said V. George Maliekel, President and Chief Executive Officer, Hollister Incorporated.
According to Maliekel, Lithuania, and Kaunas specifically, offers right technical competencies and favourable investment climate, which were the key criteria in selecting the location.
Hollister Incorporated plans to cooperate with higher education institutions in Kaunas to continue to help to train specialists in mechanical engineering, which are in substantial demand on the labour market.
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