Canadian automotive parts supplier Magna is looking for component manufacturers in the Baltic countries, the business daily Verslo Zinios reported on May 5th.
Darius Lasionis, director of the Association of Lithuanian Engineering Industries (LINPRA) and head of the Baltic Automotive Components Cluster, says that suppliers turn their sights toward Poland, the Czech Republic, Slovakia, and Hungary as Western Europe begins to face a capacity shortage amid growing passenger car and truck sales.
“However, these countries also say they no longer have sufficient resources, pointing to a labor shortage, rising labor costs and high employee turnover. Delays in fulfilling orders begin to occur and manufacturers do not hide their concern,” Lasionis told the paper.
“This has put the Baltic countries in suppliers’ radar, and intensive meetings have been taking place in the last couple of years,” he added.
Magna’s officials last week met with 32 Baltic manufacturers, including 22 from Lithuania. The company thinks that half of the manufacturers could supply products to it.
