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2019.10.10 15:00

Germany's Continental plans biggest manufacturing investment in Lithuania in 20 years

BNS, LRT.lt2019.10.10 15:00

The German automotive parts manufacturer Continental is opening a factory near Kaunas, Lithuania. The company's planned 95-million-euro investment is the biggest in Lithuania's manufacturing sector over the last two decades.

On Thursday, Continental is launching the first production line in its plant in Kaunas Free Economic Zone (FEZ), BNS reports.

President Gitanas Nausėda, Economy Vice-Minister Marius Kuodis and Kaunas District Mayor Valerijus Makūnas are among the guests at the opening ceremony.

Continental plans to invest 95 million euros into the plant over the coming five years and create a thousand jobs. At the moment, the company employs 170 people, according to data from Sodra.

The plant in Kaunas FEZ will produce passenger security and smart driver assistant systems, including door and seat control elements, smart glass systems, speed sensors and automated breaking radars.

The company also plans to build a plastic molding facility in Lithuania by 2021.

Read more: US medical equipment manufacturer Hollister opens plant in Kaunas