LK Development

Type
Business expansion
Country
Lithuania
Region
Lietuva; Vidurio ir vakarų Lietuvos regionas ; Tauragės apskritis
Location of affected unit(s)
Taurage
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.4 - Manufacture of lighting equipment
27.4 - Manufacture of lighting equipment
130 jobs
Number of planned job creations
Job creation
Announcement Date
3 January 2011
Employment effect (start)
15 February 2011
Foreseen end date

Description

Korean company LK Development intends to open a factory in Taurage and create 130 new jobs where energy saving lamp (LED) will be assembled. The factory will start production in mid February 2011. According to the management, the company will invest around 15 million LTL (4.34 million EUR) in this business expansion. The largest part of the production will be exported to the West-European countries, Russia, Belarus and Ukraine.

Sources

  • 3 January 2011: Verslo zinios

Citation

Eurofound (2011), LK Development, Business expansion in Lithuania, factsheet number 71396, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71396.