July 29, Vilnius. AB Umega, one of the biggest metal product and machinery manufacturers in Lithuania, has completed the acquisition of shares in AB Vienybė. This Umega has control of Vienybė following this transaction.
AB Umega General Manager Artūras Jereminas said that the acquisition of Vienybė will help the company to increase its competitiveness in the areas of metal product and machinery manufacturing, as well as to raise sales in Lithuania and in foreign markets. “Both companies export 80 per cent of their products to foreign countries. Therefore, by combining the experience and knowledge of these companies, we expect not only to meet the growing needs of foreign partners and increase sales, but also to become leaders in the areas of metal product and machinery manufacturing,” said Jereminas.
AB Umega posted sales of LTL 34 mln in 2007, a rise of 22 per cent compared with sales of LTL 27.9 mln in 2006. EBITDA increased from LTL 2.07 mln in 2006 to LTL 3.4 mln in 2007. It is planned that consolidated sales will reach LTL 95 mln in the coming years and the two companies will employ a total workforce of 900 people.
The value of the transaction and the names of the sellers are not disclosed.
About AB Vienybė
AB Vienybė is a machinery manufacturing and metal processing company that currently employs around 550 people. The company manufactures heating boilers, air blowers, compressors and spare parts, metal components for furniture and vehicles, as well as various moulded products, etc. The company has received the ISO 9001 and ISO 9002 international quality management certificates from Bureau Veritas Quality International. In 2002, the company implemented an environmental protection management system complying with the LST EN ISO 14001:1999 standard.
Abaut AB „Vienybė“
