"Both with the enlargement of Rifas and other companies, Panevezys has a good perspective of growth and developing production focused on exports," Anders Allikmae, board chairman at Harju Elekter, said in a press release.
Lithuania's Economy Minister Virginijus Sinkevicius says the enlargement of Rifas is important for the regional economy of Panevezys. Rifas receives goods and services from about 100 suppliers.
Within the coming three years, Rifas plans to hire 100 electrical equipment installers, electrical and 3D mechanical engineers to design and produce systems for industrial companies and new-generation ships.
Harju Elekter has been controlling the Panevezys company since 2004, its shares are quoted on the Tallinn stock exchange.
