New production facilities

According to a contract signed with the Japanese company “Yazaki”, from July 1, 2001, the operations of Baltijos Automobiliu Technika (BAT), a subsidiary of Siemens AG, will be taken over by the Japanese company “Yazaki”. BAT, situated in the seaport city of Klaipeda, has been producing cable harnesses for European car makers since 1993 and has become an integral part of French automaker Renault’s international supply chain. In May new production facilities of BAT will start operating. The investment in the construction of the new production facilities was USD 4.5 million. Another USD 5 million will be invested in new equipment. The construction of a new warehouse is also planned. Next spring the company will start producing cables for the new Renault Megane model. The number of employees will increase by 600-800 and will reach 2400. The company’s sales, now USD 40-50 million, will reach USD 80 million in 2004.