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NEO GROUP now ranked in top 50 Baltic businesses

08 Oct 2018

NEO GROUP, a Klaipeda FEZ community member, and 2nd largest polyethylene terephthalate (PET) granule producer in Europe, has recently joined the ranks of the Baltic region‘s top 50 businesses. Taking 38th position in the top table, and coming off a great 2017, which saw the company’s turnover reach 350 million EUR, NEO GROUP has experienced fantastic growth since it first established its operations in Lithuania in 2004. This year alone it has announced a 50 million EUR investment in its Klaipeda FEZ facility that will allow the company to increase production capacity by 50%. With a growing workforce that now numbers 200 experienced specialists, NEO GROUP is one of only two Klaipeda region businesses to qualify for the prestigious list, which is put together Coface, the risk assessment company.

In fact, in this year’s list, Lithuanian business led the way, with 28 of its companies making their way into the top 50.  On top of which, the rise in exports from Lithuania was higher than in either of its Baltic neighbors, with Lithuania exports increasing by 17%, while Latvian and Estonian exports rose by 10% and 9% respectively.

Klaipeda FEZ also has much to celebrate, as it is the ideal logistical links and ready access to top talent that Klaipeda FEZ is perfectly placed to provide that has allowed such companies as NEO GROUP to thrive. Indeed, Klaipeda FEZ is already keenly anticipating next year’s list to see which of its other community members will rise into the ranks of the Baltic’s best.

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