Frankenburg Technologies has announced that it will set up a plant in Latvia to manufacture short-range surface-to-air missiles to strengthen defence capabilities. The Estonian company has already signed a research and development contract with the Ministry of Defence of Latvia, which opens up opportunities for cooperation with the National Armed Forces of Latvia.
“The defence industry is currently one of the priorities of the Investment and Development Agency of Latvia (LIAA). Therefore, we work proactively with companies in this industry and currently have several projects that will strengthen the Latvian defence industry. Importantly, the defence industry has a very high export potential, as demand in many areas is higher than supply,” said LIAA Director Ieva Jāgere.
Frankenburg Technologies has taken a strategic decision to not only develop manufacturing but also a research and development (R&D) centre in Latvia. The company specialises in the development of innovative and cost-efficient air defence systems, including missile technology. The solutions offered by Frankenburg Technologies are particularly focused on the neutralisation of various types of unmanned aerial vehicles, including the Shahed drones used by Russia. The first product of the company is a short-range surface-to-air missile with a range of up to 2 km, which will be able to effectively counter various types of drones. Currently, the company has offices in Latvia, Estonia, Lithuania, Ukraine and the United Kingdom, and testing of the first product is near completion, so that industrial manufacturing can begin. Soon, the testing of the Frankenburg Missile Mark 1 missile system is also planned in Ukraine, where the systems will be tested under combat conditions.
According to Veiko-Vello Palm, CEO of Frankenburg Technologies: “The choice of Latvia is not accidental – it has a strong tradition of missile development and talented engineers. The cooperation with Riga Technical University has already proven its efficiency. Latvia has everything necessary for further development and manufacturing of the product.”
The company also plans to cooperate with NATO Member States and join the international Drone Coalition, thus further strengthening its position in the European defence industry.
Frankenburg Technologies is currently evaluating several potential locations in Latvia, including in Vidzeme, Kurzeme and Riga, with a final decision on the location to be made in the near future.
The first phase of the company’s entry will create several dozen new jobs and boost export growth, while strengthening Latvia’s defence research potential.
In total, more than 100 Latvian companies have already been certified by the Ministry of Defence that their products can be used to strengthen defence capabilities. With the commitment of the EU to invest up to EUR 800 billion in defence, the industry has very broad prospects for development.
Information prepared by
LIAA International Marketing and Communication Division
E-mail: prese@liaa.gov.lv
Tel.: +371 29725674