EU – Baltic States, Good for Business, Lithuania, Markets and Companies, Technology

The German Business Award in Lithuania 2011 focused on “responsibility for the future” and was conferred to small- and medium-sized enterprises in Lithuania that have active business relations with Germany. The award especially recognizes Lithuanian enterprises whose activities are governed by responsible and sustainable corporate citizenship, informed BC AHK.

UAB Altechna convinced the jury with its leading technologies and its exemplary mixture of young and experienced employees. The company from the photonic and laser sector has its own research and development centre named WOP (Workshop of Photonics). Within its 15 years in business the enterprise has been gaining an excellent reputation in international photonic and laser business. The company is exporting to more than 40 countries in the world – with the export contributing 81% to the total turnover. Germany is the third most important export destination with about 300 customers. UAB Altechna also works closely with German enterprises and institutions in the development processes.

Other criteria in favour of UAB Altechna include its extensive social activities and commitment. The company strives for a continuous improvement of its workforce by offering vocational training and education. In times of increasing emigration from Lithuania the company puts great emphasis on providing young people with a perspective in their home country. Employees are receiving comprehensive training options and students are offered flexible working times and internships. The model close cooperation between the academic field and the company also shows in the close cooperation between UAB Altechna and the University of Vilnius and the support provided by the enterprise for the activities of the Department of Physics.

The award is endowed with EUR 5.000. Furthermore, the winner will receive free membership in the German-Baltic Chamber of Commerce in Estonia, Latvia, Lithuania (AHK) for one year and a free flight to Germany to seek for business partners and to participate in a trade fair.

The aim and intention of the German Business Award in Lithuania is to foster the development of German-Lithuanian economic relations and to encourage Lithuanian companies to expand business contacts with German partners. The award symbolizes the commitment of the German business community to Lithuania and appreciates outstanding performances of companies developing export products or adjusting existing products successfully to specific demands of the German or local markets and motivate businesses to further expand their business relationships with Germany.