“Knowledge of regional languages, markets and culture is important to the success of a sales office, and Lithuania has a great talent pool for this kind of work” Pranas Griškevičius, Director of GRG Banking Equipment (HK) Europe UAB, said.
GRGBanking, one of the top ten companies in ATM industry, established its Europe subsidiary in March 9, 2012. Its office is located at Vilnius, the capital city of Lithuania. The office will serve as GRG’s springboard for the further expansion in Europe.
The new Lithuania-based subsidiary will provide equipment maintenance and ensure service quality control throughout Europe. The company plans to build up a team of 50 personnel, including sales managers, project managers, engineers and technical support specialists, in a few years.
“Lithuania has been discovered not only by its closest neighbors but also high-tech companies from the rapidly developing Asian markets. This highlights the positive role played by the Lithuanian diasporas situated throughout the world,” says Milda Dargužaitė, Managing Director of Invest Lithuania.
“The cost of deploying a technical support specialist from Vilnius to another European city is quite small, and the entire continent is accessible within two or three hours from Lithuania. In Germany it can take that long to get from one point to another in the same city,” said Griškevičius.
September 2011, officials from Ministry of Economy of the Republic of Lithuania visited GRGBanking’s Guangzhou Headquarters and expressed their expectation for investment in Lithuania from the fast-growing company.
GRGBanking is a leading provider of currency recognition and cash processing solutions in the global market with great potential and rapid development. GRG specializes in the development & manufacturing of Automatic Teller Machine (ATM) for financial institutions and retailers, Automatic Fare Collection (AFC) devices for railway or underground systems, as well as other currency recognition and cash processing equipment, modules and systems for over 20 years. Meanwhile, GRG’s various software solutions and comprehensive services are widely used in both financial and non-financial industries, such as retail, cash-in-transit, parking, postal, telecom, etc.
About Invest Lithuania
Invest Lithuania is a Lithuanian government agency that provides free advice for global companies interested in doing business in Lithuania, and guides international businesses through every step of the process in setting up operations. The agency provides information on Lithuania's highly-skilled yet cost-competitive labor force, tax incentives, and financing options. It has worked with numerous well-known global companies that have taken advantage of Lithuania's many incentives to expand their businesses by placing some aspects of their operations in Lithuania.
News Media Contact: Benny Huang