The fibre optic manufacturer Light Guide Optics International (Lightguide) is planning to invest EUR 33 million in a new factory in Livani in Latvia, thus creating at least 35 new jobs. This was reported by the Latgale Special Economic Zone authority to the LETA News Agency.
This will be the largest investment project in the Latgale SEZ in history. Lightguide plans to build the new factory alongside existing buildings and to purchase and install new fibre optic drawing towers.
Demand for the company’s products is expected to grow rapidly over the next few years, especially for new products such as medical catheters. This is become of an increasing number of vascular procedures that are being performed worldwide with the new technology, because it offers good results.
Light Guide Optics International is one of the world’s leading companies for the design and manufacture of silica optical fibres and fibre optic products. The company was opened in the Latgale SEZ in 2018 and has implemented five investment projects since then.
In 2022, a project worth nearly EUR 25 million was concluded, which involved the adaptation of Light Guide Optics International premises to ensure that the production process and the facility complied with manufacturing standards for medical products. Additional equipment was also procured.
Lightguide earned revenues of EUR 53.7 million in 2023, up by 1.3% over the previous year. Profits amounted to EUR 18.474 million, which was down 19.5% year-on-year, Firmas.lv reported.
Source: BNS
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