The plant is designed for around 1,000 workplaces. Continental will invest 95 million euros in the construction project over the next five years. It is planned to create 22,000 square meters of usable space for production, administration, and storage. Construction is modular, indicating further growth plans.
Responsible parties such as the Lithuanian Minister of Economic Affairs, Virginijus Sinkevičius are probably pleased about those perspectives. For some time, the Lithuanian government has been trying to attract manufacturers of complex electronic components for the automotive industry. However, according to Sinkevičius, the small market and the distance to car manufacturers prevented Lithuania from being perceived as an attractive investment location by the industry.
Continental's New Production in KaunasElectronics Plant Number 30
»Kaunas is Lithuania's industrial center and the country's leading hub for electronics and automation,« says Continental's managing director, Shayan Ali, outlining the aspects of the choice of location.
Kaunas University of Technology is also the country's largest technical university in the catchment area for potential workers. About 10 percent of the 47,000 students in the region are involved in electronics production: »Very good technical know-how is available and we expect highly qualified employees.«
Plant Number 30 - »Pull Effect«?
The new building will be Continental's 30th electronics plant and the first production site in Lithuania. Minister of Economics Sinkevičius hopes that the willingness to invest will have a pull effect on the entire industry. »Since the manufacturers of automotive components make the most foreign direct investments in Europe, this opens up a wealth of opportunities for Lithuania.«