Government ensures assistance to ambitious investment plans by Continental in Lithuania

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2017 11 08

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Prime Minister Saulius Skvernelis has met with the management of Continental, a German automotive manufacturing company that is about to construct a new manufacturing plant in Lithuania. At the meeting, a memorandum of understanding was signed by the representatives of the company and the Ministry of Economy, hence ensuring the Government’s assistance to the investment plans of Continental.     

“The decision by the German automotive components producer Continental to construct a manufacturing plant in Lithuania is a historic event for Lithuania. The Government is grateful for the trust, and hence pledges to assist Continental so that setting up and starting its production in Lithuania is as fast and smooth as possible. Fast implementation of the company’s investment plans will be a significant victory for both sides: Continental seeks expanding its presence in Europe, while we find it important to create as many high value-added jobs in the country as possible”, said Prime Minister Saulius Skvernelis.       

According to the Prime Minister, it is a major step for Lithuania’s automotive components industry, for alongside Continental’s coming to Lithuania, other automotive component producers start turning their attention to Lithuania. It will help Lithuania get on the map of major car manufacturers and consolidate its position in the industry’s production supply chain.           

Last week it was announced that Continental was to expand its presence in Europe and build its first plant in Lithuania. Continental plans to invest EUR 95 million into the new electronic components unit over the next five years and will create around 1,000 new jobs. The company plans to start production by the middle of 2019.  

The German company will manufacture door and seat control units, gateways and intelligent glass control units, and radar sensors for Adaptive Cruise Control (ACC) and Emergency Brake Assist (EBA). 

“Since our very first meeting with representatives of Invest Lithuania till today, when we are signing a memorandum of understanding with the Government representatives, we have felt a highly positive attitude towards us and the will to implement the project in exactly the same way as we want. Seeing the support of all our partners, we believe that we have taken a right decision to set up in Lithuania’, said Dr. Hans-Jürgen Braun, head of 28 Central Electronic Plants worldwide at Continental.    

In 2016, Continental generated sales of EUR 40.5 billion and currently employs 227,000 people in 56 countries. The company was founded in 1871.