ŠIAULIAI, Lithuania - Overcapacity and a slowdown in demand in Europe were the main reasons for a decline in turnover in 2023 reports bicycle manufacturer UAB Baltik Vairas. In 2023 the company generated a turnover of € 170.96 million, down 7.5% from € 184.9 million in 2022.
SIAULIAI, Lithuania - Baltik Vairas had been the single outpost of the bicycle industry in Lithuania and the other Baltic States for many years. Thanks to the modernisation of the company in the past decade it has now made the country one of the potential hot spots for the e-bike industry.
VILNIUS, Lithuania - The announcement by Pon Holding to construct a new e-bike and bicycle factory in Lithuania started a string of reactions in this small Eastern European country. With this new dynamic, the country has put itself on the map as the next bicycle production hub in Europe.
ŠIAULIAI, Lithuania - E-bike and bicycle manufacturer Baltik Vairas has appointed Nerijus Gužauskas to the position of CEO, effective from 15 June 2021. As part of BV's existing senior management team, he has been heavily involved in the turn-around of Baltik Vairas which is now experiencing record order numbers. He takes over from Žilvinas Dubosas, who is leaving the company to pursue another opportunity.
ŠIAULIAI, Lithuania - For the second consecutive year, e-bike and bicycle manufacturer Baltik Vairas will roll out an investment plan to increase its capacity. "In 2020 our sales reached €75 million and for this year we anticipate on a turn-over of €130 million," said Baltik Vairas CEO Žilvinas Dubossas.
SIAULIAI, Lithuania - Baltik Vairas has taken the next step in the modernisation of its e-bike production. This week an all new assembly line became operational in Lithuania's only e-bike and bicycle factory.
