US medical equipment manufacturer Hollister, which is opening its new factory in Kaunas on Wednesday, says the 50-million-euro investment could be only the first stage of its expansion in Lithuania, the business daily Verslo Zinios reported on Tuesday.
Hollister Incorporated
© Kas vyksta Kaune

Hollister Incorporated President George Maliekel said that if the production of ostomy care and other products is successful, the company may exploit opportunities beyond manufacturing in the future.

He also hinted that Lithuanian employees may have an opportunity to acquire shares in the company in the future.

Construction on Hollister's production facility in the Kaunas Free Economic Zone began in November 2017. The US company plans to employ 500 people at the factory.

It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

President's proposed faster pension rise to cost EUR 65 mln in 2 years

A faster increase in pensions, proposed by Lithuanian President Gitanas Nauseda, will cost the state...

Foreign countries surprised by Lithuanian success in this field

Growing social pressure regarding waste and ecology forces countries to introduce packaging...

Residents to be offered EUR 1,000 for less polluting cars

Lithuanian residents will be able to ask for 1,000 euros in compensation when changing their old...

Biggest land owners in Lithuania named

Ramunas Karbauskis , leader of the ruling Lithuanian Farmers and Greens Union, businessman Darius...

Representatives of ruling party propose taxing large retailers

Representatives of the ruling Lithuanian Farmers and Greens Union have proposed introducing a new...