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Albright Lietuva expands in the FlexStart 2 building of Klaipeda FEZ
Albright Lietuva UAB, a British-owned manufacturer of electrical switches operating in the Klaipeda FEZ, has completed a EUR 1.5 million expansion project in the specialised production building FlexStart 2. The company has moved its entire soldering activities for electrical contacts to the new premises and established a new stamping department.
Albright Lietuva, which has been operating in its own building in the Klaipeda FEZ since 2007, had been exploring various expansion options for some time but finally decided to expand into the FlexStart 2 project being developed by the FEZ management company.
“We decided to move our contact soldering department to FlexStart 2 because we were very short of storage space in our own building. Soon we had the idea of not only soldering the contacts in the new premises but also producing the blanks for them ourselves. Before, we used to get them from external suppliers. Therefore, this move is both a relocation of activities and an expansion and new functions. All this will ensure a timely supply of contacts for the production of switches and reduce logistics costs,” comments Ramūnas Barcevičius, Managing Director of Albright Lietuva.
The company started the expansion project in the FlexStart 2 building in September and completed it earlier this year. According to the CEO of Albright Lietuva, the decision to move into this building was not only due to the neighbourhood but also the possibility of adapting the premises to individual needs. The new premises are already home to 25 colleagues, with the possibility of growing to 30 later.
The company has rented 1,000 sqm of space and operates under the same roof as Retal Baltic Films and other companies. FlexStart 2 has a total area of 8,500 sq m. The first flexible production building FlexStart, developed by the FEZ management company back in 2017-18, was immediately fully leased and was awarded the Financial Times group’s award for quick investor launch.
According to Eimantas Kiudulas, the CEO of Klaipeda FEZ, this is the second move by an existing FEZ investor into FlexStart buildings in a few months. Recently, UAB Retal Baltic Films, a PET packaging manufacturer, also announced its expansion in FlexStart 2.
According to preliminary data, Albright Lietuva’s turnover in 2022 was EUR 25 million, 19% higher than the previous year. The company expects a 14% growth this year, but the difficult global business environment is still complicating its forecasts and plans.