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2023-05-18 00:00:00
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Notable Slovak Medical Devices & Dental Instruments Producers
A Swedish manufacturer of medical mattresses, "Care of Sweden," is set to open a factory in LiepÄja, Latvia by the end of this year. The company has established a subsidiary in Latvia and has secured a lease agreement for a 3,000 square meter space in the LiepÄja Old Port Business Park. The planned investment for the factory amounts to two million euros.
One of the main reasons for choosing Latvia as the location for the factory is the proximity to suppliers in the Baltic region. The company already sources raw materials from Latvia and Lithuania, with suppliers from JÄkabpils, Ventspils, and Jelgava providing materials, and a Lithuanian company supplying foam rubber.
The LiepÄja Old Port Business Park, situated within LiepÄja's Special Economic Zone and close to the city center, is an attractive location for the factory. The park currently houses over 20 tenants, comprising both Latvian and foreign investors.
The decision of "Care of Sweden" to establish a factory in LiepÄja highlights the appeal of Latvia for investments, particularly for manufacturing companies seeking to expand outside of Riga. This trend of locating production and sourcing materials closer to end users presents opportunities for Latvia as many companies shift away from Asian markets and return to Europe.
The Investment and Development Agency of Latvia (LIAA) played a role in assisting "Care of Sweden" with finding suitable premises, arranging meetings, and providing essential information, facilitating the decision-making process for the new factory.
Initially, the LiepÄja factory will employ ten people to assemble mattresses using the supplied raw materials, with the potential for workforce expansion in the future.
"Care of Sweden" produces two types of mattresses: medical preventive mattresses and electronically controlled medical mattresses, both designed to treat and prevent bedsores in bedridden patients.
In 2022, the company achieved a turnover of 21 million euros, exporting its products to approximately 35 countries worldwide. Sweden accounts for 55% of their sales, while the remaining 45% is exported, with Australia being the largest export market.
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