Lithuania's Fima engineering company looks to gain foothold in Poland

Fima now derives less than 10 percent of its revenues in neighboring countries, but the percentage is set to increase soon due both to more active operations abroad and to decreasing investments in Lithuania.

Fima Polska, Polish subsidiary company that was established last year, expects to win its first infrastructure renewal projects, which are ten times larger than those underway in Lithuania.

"We see a lot of prospects in Poland, because many areas, such as the deployment of broadband networks, the construction of data centers, and the railway and energy infrastructure, are still awaiting modernization. We are taking part in several large public tenders. We have won several of them and have signed the first contracts, and are starting to implement them," Fima CEO Gintaras Juknevičius said.

Last year, Fima carried out some large projects in Latvia and its Latvian subsidiary's revenues increased fivefold. In Latvia, Fima is now giving priority to completing a railway section project worth nearly 60 million litas (EUR 17.4 m). Work will continue until the autumn of 2013.

Fima's revenues surged almost 60 percent last year compared with 164 million litas in 2010, with its foreign subsidiaries increasing their sales nearly fivefold to 13.5 million litas.