aA
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
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.

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

Pursuing investment: shrinking production in Germany brought new opportunities for Lithuania

In 2019 47 foreign direct investment (FDI) projects were attracted to Lithuania, including companies...

Fines for some free plastic bags in stores set

The Lithuanian parliament voted on Tuesday to establish fines of thousands of euros on retailers...

Romanov and 12 other people suspected of squandering Ukio Bankas' assets

Vladimir Romanov, Ukio Bankas' former majority shareholder, and 12 other people are suspected of...

Pieces of paraffin wax-like substance on beaches traced to Russia

Pieces of a substance similar to paraffin wax that were found washed up on Lithuania 's beaches last...

Official: ban on Ukrainian poultry imports won't affect our market

The European Commission's ban on imports of Ukrainian poultry meat and poultry products will have...

Top news

Romanov and 12 other people suspected of squandering Ukio Bankas' assets

Vladimir Romanov, Ukio Bankas' former majority shareholder, and 12 other people are suspected of...

Linkevicius: the Holocaust is scar on humanity's face (1)

The genocide of the Jewish people is a scar on Lithuania and the whole humanity's face, Lithuanian...

Fines for some free plastic bags in stores set

The Lithuanian parliament voted on Tuesday to establish fines of thousands of euros on retailers...

Lithuanian students invent belt that monitors fetus during pregnancy

A team of students from Kaunas University of Technology (KTU) BeltaMom has designed a belt for...

Pursuing investment: shrinking production in Germany brought new opportunities for Lithuania

In 2019 47 foreign direct investment (FDI) projects were attracted to Lithuania, including companies...