KAUNAS – USA-based medical device manufacturer Hollister has signed an agreement to build a manufacturing plant in the Kaunas Free Economic Zone.
The factory will be built on a 13 ha plot in an investment of over EUR 50 mln. “Very early on when selecting our site, our team realised that Kaunas not only has superb infrastructure, but also a welcoming business environment and strong support from the community,” said George Maliekel, the CEO of Hollister. “In selecting Kaunas, our team took note of the strong academic community in the area, as well as its highly educated workforce and skilled pool of talent,” he added.
Colliers International advised Hollister in the site selection with legal advice from PwC Legal Lithuania.
The Kaunas Free Economic Zone started operating in 2004 and since then has attracted 31 investors, which together occupy an area of 87 ha or 15 pct of the available space in the zone. Total investment in Kaunas FEZ so far comes to EUR 489 mln, 70 pct. of which has come as foreign direct investment.