“We signed a contract with Russia’s truck giant KamAZ after long negotiations. It is a huge company and a solid buyer. Talks on compressor price took the longest,” Panevėžio Aurida CEO Redas Klupšas said in a press release.
Panevėžio Aurida was now manufacturing new generation compressors, he said.
“We are monitoring the market every day, we make improvements since any loosening, short-sightedness on the market may cost us a lot. The fact that a compressor manufactured by Panevėžio Aurida is being mounted on a bus for the entourage of Ukraine’s president proves the quality of our products,” Klupšas said.
The company’s revenues soared by 65.6 percent, to 6.5 million litas (EUR 1.88 m), in the first quarter of this year, from 3.9 million litas a year ago. Compressor sales surged by 53.4 percent, to 16,800 units, from 10,900 in the same period last year.
“First-quarter performance was strong. We have a sufficient order book and hope to make up for time lost during the downturn this year,” Klupšas said.
The company now employs a workforce of 166. Panevėžio Aurida exports its products to Poland, Russia, Ukraine, Bulgaria, and Hungary.
2012-05-14 16:48
Lithuania’s Panevėžio Aurida starts supplying compressors to Russia’s KamAZ
Panevėžio Aurida, the Baltics’ only manufacturer of compressors for cars, has started supplying compressors to KamAZ, Russia’s largest truck factory.
KAMAZ / AP/„Scanpix“ nuotr.
Report mistake
Successfully sent
Thank you
