Optical equipment manufacturer Yukon Advanced Optics Worldwide has established a company in Daugavpils this year, which plans to produce 40 thousand units of optical equipment per year, employing 150 workers, informs the Latvian Investment and Development Agency (LIAA).
It is planned that the company’s turnover will reach 30 million euros in a few years.
Yukon Advanced Optics Worldwide is one of the companies that LIAA addressed to the Ministry of Foreign Affairs in the autumn of 2020.
The company, headquartered in Lithuania, develops thermal, digital night and day vision optical equipment for civilian use. Expanding its operations, the Yukon Advanced Optics Worldwide Group has established Pulsar Optics in Latvia. Thermal cameras of the world-famous brand “Pulsar” will be manufactured in Latvia.
“The arrival of the optical equipment manufacturer Pulsar Optics in Latvia is a proof that we are able to offer a competitive business environment. In total, the decision to relocate or expand its operations in Latvia has already been made by 17 companies, which LIAA addressed during the Belarusian campaign. , including Pulsar Optics, has chosen Daugavpils as its location. This indicates that there is also a high potential for the development of innovative business outside Riga, “comments Minister of Economics Jānis Vitenbergs.
An important argument for the entry of the Yukon Advanced Optics Worldwide group into Latvia was the steps taken by LIAA to create a unified photonics and intelligent materials ecosystem, in which such companies as HansaMatrix, Groglass, CeramOptec, LightGuide International, RD Alfa Microelectronics are currently involved. and Eventech, but in total the ecosystem spans dozens of companies.
The UN Economic Development Report identifies photonics as one of the priority sectors with high development potential. Photonics and smart materials ecosystem companies are already attracting Horizon 2020 funding from the EU’s research and innovation support program. In the future, by increasing capacity, ecosystem companies could also create joint industrial parks, combining production with scientific research.
“The establishment of a subsidiary in Latvia is the next step in the implementation of our long-term strategy. The global market for thermal imaging devices has been growing rapidly for several years, so we decided to increase production capacity. The choice of Latvia was the optimal solution an investment climate with good business potential that is in line with the development plans of our group of companies, “says Alexander Olshevsky, CEO of Yukon Advanced Optics Worldwide.
The most advanced technologies and engineering solutions are used in the production of Pulsar and Yukon Advanced Optics, the favorite brands of professionals and amateurs. The company is actively investing in and developing software for image processing and artificial intelligence. Last year, the company’s products were exported to more than 70 countries around the world. The largest export markets are the USA and Europe, where 80% of total exports are sold.
With the opening of the company in Daugavpils, Latvia will become the seventh country to be represented by Yukon Advanced Optics Worldwide. The company has also located its production facilities in Belarus, Great Britain, China, Lithuania, Russia and Ukraine.
Viktors Smirnovs, director of the group’s subsidiary SIA “Pulsar Optics”, founded in Latvia, points out that the planned investments in the company’s development will be 5 million euros and in 2021 the company has several tasks: “Equip production facilities production must begin “.
“Latvia is a country very close to us, not only geographically, but also culturally and historically. Experts from LIAA and the Ministry of Foreign Affairs provided great support to us in developing the investment investment plan. They significantly facilitated decision-making. “We are pleased that we have chosen Daugavpils, and we very much hope that we will soon be able to attract the required number of employees,” said V. Smirnovs.
The director of Pulsar Optics emphasizes that the company has long-term plans in Latvia, and is currently actively looking for new employees at the level of both management and production specialists. The company cooperates with the personnel selection company “CVO Recruitment” and invites you to follow the announced vacancies.
Thermal imagers and digital night and day optics developed by Yukon Advanced Optics Worldwide are used in the hunting, marine and security industries. The company is a pioneer in the production of civilian thermal imagers, and its products are exported to more than 70 countries around the world. The company is one of the few manufacturers that provides a full production cycle and currently offers more than 200 products. The group of companies consists of 9 companies, headquartered in Lithuania, but production is provided in seven countries around the world. The group of companies has a total of more than 1,100 employees.