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Moog To Invest LTL7 Million To Establish Services Centre In Lithuania

Moog Inc. (Moog), a designer, manufacturer and integrator of precision control components and systems, has plans to invest LTL7 million in Lithuania in the nearest future, to establish a modern services centre and expand its research and technology branch, according to The Baltic Course. In January 6, 2009, Moog has acquired 100% of the stock of Viltechmeda, a Lithuanian-based manufacturer of high-precision syringe infusion pumps. The purchase was made for EUR15 million ($21 million).

Lithuanian Prime Minister Andrius Kubilius heard such information from Martin Berardi, president of Moog Medical Devices, and the heads of Viltechmeda.

We pay special attention to the introduction of high and mid-high technologies, promotion of foreign direct investments in our economic stimulus plan. It is very important for us to overcome these hard times by gradual modernization of the Lithuanian economy, development of innovative economy, IT technologies, science and business valleys, Kubilius noted.