LEAX Group to expand in Latvia with risk capital from Swedfund
To be able to compete with both price and quality, LEAX Group has choosen to start manufacturing in Latvia. With the help of risk capital from state owned Swedfund, LEAX now speeds up its expansion in SIA LEAX Baltix.
”Together with Swedfund we will be able to expand faster. We also gain valuable market knowledge and an extensive network" says Roger Berggren, Managing Director LEAX Group AB.
The Baltic region attracts many Swedish companies. The growth is strong, there is a well trained work force and the bureaucracy is rapidly decreasing. LEAX Baltix in Riga contributes to create a common home market for Swedish companies in the Baltic region - a goal for Swedfund.
”With the investment in LEAX Baltix, the company can expand with profitability. At the same time, the serious approach will create spin offs in Latvia regarding good work environment and competence development, says Karin Isaksson, Senior Investment Manager at Swedfund.
For more information contact:
Roger Berggren, MD, LEAX Group, +46-221-346 07, +46-706-559971
Karin Isaksson, Senior Investment Manager. Swedfund International AB, +46-8-725 9421, +46-703-299421
LEAX Group is the parent company of a group (“LEAX Group”) with about 1,200 employees. LEAX Group has operations in Köping, Falun and Falköping in Sweden, Riga and Rezekne in Latvia, Curitiba in Brazil, Detmold in Germany, Mezökövesd in Hungary and Wuxi in China. LEAX Group is a manufacturer of mechanical components and subsystems for the heavy vehicle industry, passenger cars, mining and construction industries and other engineering industries. LEAX Group also delivers customized gearboxes for various mechanical engineering industries.