Crimppi is a global wire harness and optical cable as well as electromechanical assembly provider serving advanced industries.
“We selected Latvia as the best location for our fourth factory analyzing other Baltic offerings. We saw very good growth opportunities here enabled by convenient logistics fitting in our supply chain and the skilled and available workforce. In addition, the support we received by LIAA both in Finland and locally in Latvia allowed us to find modern premises and establish our presence here,“ said Timo Harri, the CEO of Crimppi.
The new factory of the Vaasa-based wire harness manufacturer will better serve the Northern European market and realise the group’s growth strategy. The factory is expected to start production in the first quarter of 2024, employing 100 and more employees over a few years.
“The Latvian factory will expand our group’s factory network in addition to China and Croatia and enable us to provide better service to our customers especially in the Nordics, Baltics and Central Europe. Thanks to the very modern facilities, we will be able to ramp up production quickly and efficiently,” says Timo Harri, CEO of Crimppi.
“Finland is one of Latvia’s priority countries for investment and innovation development. Crimppi represents the smart materials sector that is among Latvia’s top priorities enabling production of more high added-value products and connecting to wider supply chains,” said Iveta Strupkāja, Acting Director General of LIAA.
The new factory location in Liepāja will significantly reduce the distance and time of delivery of products to customers reducing also emissions.
The project was enabled by the good cooperation between LIAA Representative Office in Finland, LIAA Investment division, Liepaja Special Economic Zone, Vecās Ostmalas Biznesa Parks, Rödl & Partner and support by the Embassy of Latvia in Finland.
In 2023 LIAA implemented a total of 46 investment projects with a total volume of EUR 618.9 million and the number of planned jobs – 2513.
“We have made all our major investments during recessions. We believe in what we do and, as the green transition moves forward, we are confident that these investments will pay off and that our products will be increasingly in demand. We will continue our growth-orientated strategy with confidence and determination,” says T. Harri.
