Belgian building materials group Etex has announced opening a Global Business Services centre in Vilnius. The new branch will hire a team of Finance and Accounting professionals who will support the functions of this international group that generates over three billion euro in annual revenue, informs "Invest Lithuania".
Belgium building materials group to open office in Vilnius
© DELFI / Karolina Pansevič

Etex is by no means a newcomer to the Lithuanian market. In 2006 it opened a fiber cement roofing sheets plant which was expanded in 2016 by adding manufacturing of fiber cement façade sidings.

“Etex’s shared services centres enable us to further enhance our operational performance, a major requisite for one of our company’s key objectives: to generate profitable growth. Focussing on finance, our new shared services centre in Lithuania will help us do just that. Following a thorough review of potential investment locations, the Lithuanian business environment ticked all the boxes in terms of available talent, infrastructure, ease of doing business, quality of life and cost of living,” states Marcel Baalhuis, Global Head of Shared Services at Etex.

„Countries that excel at attracting FDI and fostering relatively large foreign investor communities, such as Ireland, are focusing on helping existing investors expand than on attracting new companies. In the last couple of years the Ministry of Economy and Innovation together with Invest Lithuania have empowered the team working with existing investors, and we already see results – multiple foreign companies are expanding not just their headcount but also their range of functions,“ says Virginijus Sinkevičius, the Minister of Economy and Innovation of Lithuania.

The arrival of international companies not only creates new opportunities for Lithuanian professionals and shows that their knowledge and skills are globally recognized, but it also helps to diversify the national economy. Now in addition to global leaders in engineering, mobility, automotive electronics and technology, as Dana Incorporated, Outokumpu, Paroc and others, the office of Etex strengthens the construction and building materials industry presence in Lithuania. Reinforcing diversification encourages positive economic development which is a crucial element for long-term growth.

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