JSC “Baltic Filter” is carrying out a number of EU projects. The project No. 01.2.1-LVPA-T-858-01-0041 “Investments of JSC “Baltic Filter” in COVID-19 Related Research and Experimental Development Activities”, which is financed by the European Regional Development Fund. It is funded as the European Union’s response to the COVID-19 pandemic. (The project’s budget is EUR 342,985.82; meanwhile, the amount of funds allocated is EUR 274,388.65). The Agreement on Financing and Administration with the Public Enterprise “Lithuanian Business Support Agency” was signed under measure No. 01.2.1-LVPA-T-858 “COVID-19 R&D” of Priority Axis 1 “Promotion of Research, Experimental Development and Innovations” under the Operational Programme for EU Funds Investments for 2014-2020.
The project should be implemented from 24 March 2020 to 31 January 2022. The aim of the project is to conduct research and experimental development activities in order to create a material with strong antibacterial and antiviral properties. It is planned that 99.99% of the developed material will destroy the viruses that cause COVID-19, thereby helping to protect people against this virus. The material would be used in the production of medical respirators and could also be used in the production of other measures protecting their users from COVID-19 virus.
JSC “Baltic Filter” also implements the project No. 03.3.1-LVPA-T-859-0028 “Investments of JSC “Baltic Filter” in the Production of Goods Protecting From COVID-19”, financed by the European Regional Development Fund (the project’s budget is EUR 506,700.00. Meanwhile, the amount of funds allocated is EUR 481,365.00). The aim of the project is to purchase high-performance production equipment for the production of an innovative respirator. The product’s purpose would be to protect medical personnel. Because there is currently a high demand for respirators, it is critical to make investments as soon as possible to enable mass production of these products in a short period of time. Thus giving the company a competitive advantage and increasing its proceeds from sales.
SUCCESSFUL IMPLEMENTATION OF THE EU-FINANCED PROJECT “COMPANY’S INVESTMENTS IN THE MODERNISATION OF THE PRODUCTION BASE AND THE DEVELOPMENT OF NEW PRODUCTS WITH HIGH VALUE ADDED”
The successfully operating and continuously developing Lithuanian JSC “Baltic Filter” producing automotive filters has successfully implemented the project “Company’s Investments in the Modernisation of the Production Base and the Development of New Products With High Value Added” (Project No. VP2-2.1-ŪM-06-K-01-028). The project was supported by the European Regional Development Fund and funded by the Republic of Lithuania.
The project’s budget was EUR 1,343,345.21. The main objective of the project “Company’s Investments in the Modernisation of the Production Base and the Development of New Products With High Value Added” is to strive to increase the efficiency of JSC “Baltic Filter” by increasing its labour productivity. Capacities and export volume, as well as to begin producing high value-added products. The objective is to invest in modern, innovative processing lines and equipment thereby creating new long-term jobs.
The completed activities of the project include the purchase of equipment required for the development, production and testing of new products. As well as the reconstruction of the production building with administrative premises and the construction of warehouses. It is anticipated that the successful implementation of the project will ensure a value chain consisting of the growth of export volumes, company turnover and labour productivity. Increase of company’s visibility in international markets and strengthening of its competitive advantage, as well as the increased trust of foreign countries in Lithuanian companies. From the start of the EU projects on 15 May 2012 to the end of the project on 16 March 2015, JSC “Baltic Filter” achieved the following EU projects results:
- It has purchased 1 set of equipment;
- It has purchased 1 set of furniture;
- It has built production building with administrative premises, 3 warehouses;
- It has hired personnel.
The successful implementation of the project will increase the company’s turnover, labour productivity, export volumes and company’s visibility in international markets. As well as strengthen the competitive advantage of JSC “Baltic Filter”. To meet the needs of the customers, JSC “Baltic Filter” will continue to offer the same products: high-quality air, fuel, oil and cabin filters for cars, lorries and motorcycles, as well as garden, forest and agricultural machinery.
The continuity of the project results will be ensured by carrying out the main activities of the company, improving currently produced goods and constantly offering new products to both Lithuanian and foreign markets. New contacts have been made in Italy and France as a result of this project. The applicant will take all necessary steps to publicise the funding of the EU Structural Funds so that other potential applicants are aware of the availability of support.
The project carried out by JSC “Baltic Filter” helped the company to establish new relations with potential partners and customers, as well as to sign product supply agreements with some partners. Participation in foreign exhibitions aided the company in gaining new customers and initiating new projects. The company’s export volumes doubled during the project’s implementation period. The company has no plans to slow down and intends to expand its partner network, as well as increase export volume and brand awareness even more actively and efficiently.
The project’s advantages will benefit the company in the long run. The preparation of the company’s strategy and research enabled it to adapt more flexibly to the situation of the foreign markets analysed. Company’s personnel gained experience and skills in strategic management. As a result of the EU projects “Export Promotion Plan of JSC “Baltic Filter”, the company’s approach to the need to strengthen strategic management skills has improved.