A SYMBOLIC TIME CAPSULE IS BURIED AT THE START OF CONSTRUCTION OF A NEW ELECTRONICS ASSEMBLY PLANT
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Teltonika has started construction of a new electronics assembly plant in Vilnius. On Thursday, 14 December, a symbolic time capsule with a letter to future generations was buried in the foundations of the building.
"I congratulate Teltonika on the start of construction of the new plant, which not only marks the company's rapid development, but also contributes to the strengthening of high-tech and innovation in Lithuania. The IoT products to be developed in the new factory will represent Lithuania as a supplier of unique and innovative digital products. This will create even more opportunities for Lithuania and its people," said Aušrinė Armonaitė, Minister of Economy and Innovation, who attended the event.
The new production facilities will be located in Liepkalnis, on the territory of the Teltonika High-Tech Hill Technology Park. It will create 700 jobs and will manufacture IoT products developed by Teltonika, as well as contract manufacturing. The production capacity will reach more than 18 million products per year.
"We are building a new electronics assembly plant, which will be bigger than the two existing plants in Vilnius and Molėtai combined. In a couple of years, we will have twice the production capacity we have today, which will allow us to meet our growth needs. Our current production capacity allows us to reach an annual turnover of up to €1 billion, and by doubling the number of production lines, we will be able to have an annual turnover of €2 billion in 2026, if sales go smoothly," says Arvydas Paukštys, founder and president of the Teltonika company group.
The new factory will have three floors and an area of 22.7 thousand square metres. The ground and first floors are designed to house production facilities, including 10 electronic assembly lines, 20 testing lines, 4 packaging lines, a modern robotic warehouse, and laboratories. The third floor will house administrative premises. Around 300 car parking spaces will be provided next to the A++ energy-efficient building.
Construction of the new plant is expected to be completed in early 2025. The Teltonika company group will invest around €75 million in this project.
The Teltonika High-Tech Hill technology park in Liepkalnis will include 10 new industrial and administrative buildings to be constructed in several phases over a five-year period. The whole complex is expected to employ around 6,000 workers. The Teltonika company group has already started construction of a printed circuit board factory last month, which is scheduled to be completed by the end of 2024. The project will involve an investment of around €143 million. The total investment in the Teltonika High-Tech Hill technology park is estimated at about €3.7 billion.