ASTRA LT AB investments in automation and digitization of production by increasing work productivity,

LT07-1-EIM-K05-022

The project has been implemented by “Astra LT” AB in partnership with Svenheim Møbelindustri AS and funded under the 2014-2021 Norwegian Financial Mechanism program “Business Development, Innovation, and SMEs”.

Project start date: 2023.06.27, finish date: 2024.04.30.

Project value:

631 910,50 Eur

Contribution of the Norway Grants funding scheme:

376 318,95 Eur

Project developer:

AB „Astra LT”

Project partner:

Svenheim Møbelindustri AS

Added value of the partnership:

The partnership has enabled ASTRA LT to learn from the best practices and expertise of Svenheim Møbelindustri AS in the field of ICT and digitization. This has allowed ASTRA LT to improve its own production processes, increase efficiency and reduce costs.

The partnership with Svenheim Møbelindustri AS strengthens bilateral cooperation between Lithuania and Norway which is beneficial for both countries. The project has created opportunities for knowledge and technology transfer, fostering innovation and competitiveness in both countries.

The partnership has also contributed to building closer economic ties between the two countries and improving the business environment. The project results will be a testament to the successful collaboration between Lithuanian and Norwegian companies, and may lead to further partnerships in the future.

The main goal of the project

• The major aim of the project is to increase the competitiveness of ASTRA LT by investing in the latest digitalized production and ICT technologies and expanding its production capacity;
• Successfully compete in the market and create greater added value by producing products in demand on the market – very large containers and very large reactors;
• Reduce raw material costs, energy costs, production waste, reducing the impact on global climate change;
• Increase work productivity;
• Increase the company’s competitiveness by investing in the latest digitized production and ICT technologies.

Benefits of the project:

• Production of in-demand products;
• Job creation;
• Fostering bilateral relations between Norway and Lithuania;
• Promotion of business cooperation;
• Innovation and the growth of the Lithuanian economy;
• “Green” industry developments in Lithuania.