Griptel builds new production facility in Riga to facilitate 5G growth.
We have decided to build our own production facility in Riga, Latvia, to secure the necessary capacity to satisfy the strong demand from the telecom sector and other industries.
Together with our Latvian partner JSC Energofirma “JAUDA” and the company PowerService, we will build a new and modern facility with a more than ten-fold increase in production capacity.
The facility will formally be owned by a new company Gripsteel, where Griptel holds the majority 51 per cent share. JSC Energofirma “Jauda” will own 30 per cent, while PowerService holds the last 19 per cent.
“We are experiencing strong and rapidly growing demand for our products. We are therefore building our own facility to make sure we have enough steel and production capacity to satisfy our customers’ needs,” says Griptel CEO Pål Bjørdal.
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