Company briefs - 2007-10-03

  • 2007-10-03
Kitron, a Norway-based electronics maker 40 percent owned by Lithuania's Hermis Capital, said it is in talks with property developers and financial institutions to invest in a new factory that would be located in Kaunas. The factory, which would occupy 12,000 square meters, is expected to be completed in mid-2009, the company said. Kitron CEO Jorgen Bredesen said that the new factory would significantly contribute to increasing the company's capacity and help raise its market share. The new facility can generate income of more than 500 million Norwegian crowns (64.5 million euros) annually. "Our present factory in Kaunas is running well and is recognized for quality. Its profitability is good. When the new factory opens, we will further increase our competitiveness," he said.

Cilija, the largest pizza chain in the Baltics, opened its first Cili Pica restaurant in Estonia. The first 315-square-meter, 103-seat restaurant is located at Kristiine Kaubanduskeskus, one of Tallinn's oldest and biggest shopping centers. The company said the restaurant created 47 new jobs for Tallinn. The Cili chain currently comprises 52 restaurants and cafes in Lithuania and 26 restaurants in Latvia, Poland, Ukraine and Romania. Cilija posted consolidated sales of nearly 126 million litas (36.5 million euros) last year, up 32.8 percent from 94.9 million litas the previous year. Director Saulius Grakavinas said the company was planning to open a second Cili restaurant in Estonia in 2008.