Investment climate, Global Business Services & ICT
Investment climate, Global Business Services & ICT

Belgium building materials group Etex to open Finance and Accounting Centre in Vilnius

May 29, 2019

Belgian building materials group Etex has announced opening a Global Business Services centre in Vilnius. The new branch will hire a team of Finance and Accounting professionals who will support the functions of this international group that generates over three billion euro in annual revenue.

Talent pool and a flourishing business environment, as well as the quality of life,  were the key factors that influenced the decision to expand the group’s activities in Vilnius. In addition to developing global business services support team, representatives of the company say that they are willing to collaborate with local higher education facilities in Lithuania.

Etex is by no means a newcomer to the Lithuanian market. In 2006 it opened a fiber cement roofing sheets plant which was expanded in 2016 by adding manufacturing of fiber cement façade sidings. The new office in Vilnius will strengthen the company’s presence in Lithuania and even more local talents will be able to contribute to the work of an international leader whose services are trusted by clients from different industries.

“Etex’s shared services centres enable us to further enhance our operational performance, a major requisite for one of our company’s key objectives: to generate profitable growth. Focussing on finance, our new shared services centre in Lithuania will help us do just that. Following a thorough review of potential investment locations, the Lithuanian business environment ticked all the boxes in terms of available talent, infrastructure, ease of doing business, quality of life and cost of living,” states Marcel Baalhuis, Global Head of Shared Services at Etex.

„Countries that excel at attracting FDI and fostering relatively large foreign investor communities, such as Ireland, are focusing on helping existing investors expand than on attracting new companies. In the last couple of years the Ministry of Economy and Innovation together with Invest Lithuania have empowered the team working with existing investors, and we already see results – multiple foreign companies are expanding not just their headcount but also their range of functions,“ says Virginijus Sinkevičius, the Minister of Economy and Innovation of Lithuania.

The arrival of international companies not only creates new opportunities for Lithuanian professionals and shows that their knowledge and skills are globally recognized, but it also helps to diversify the national economy. Now in addition to global leaders in engineering, mobility, automotive electronics and technology, as Dana Incorporated, Outokumpu, Paroc and others, the office of Etex strengthens the construction and building materials industry presence in Lithuania. Reinforcing diversification encourages positive economic development which is a crucial element for long-term growth.

“We are happy that Lithuania sees a new emerging cluster of GBS centres that service Manufacturing and Engineering companies. The presence of companies like Etex that have gained global recognition for their expertise and knowledge in the field indicates that there is a new niche in our region that Lithuania can tailor to,” says the General Manager at Invest Lithuania, Mantas Katinas.

This Belgian company has been continually growing ever since the founding day in 1905. The company’s firm values – pioneer to lead, passion for excellence, connect and care – supported this growth over the years. Every office in the world, including the ones in Lithuania, has the same objective – build a team of professionals who share Etex group’s values and want to inspire people around the world to build living spaces that are ever more safe, sustainable, smart and beautiful.

Subscribe CTA image

Enjoy reading our news?

Please wait...

Thank you for subscribing to our newsletter!

Have questions? Contact us
Aistė Žebrauskienė
Press Officer LinkedIn icon
Contact me
Get in touch

    Aistė Žebrauskienė Press Officer
    Thank you!

    Thanks for reaching out to us, this means a lot! We will get back to you shortly.

    Meanwhile, we invite you to discover what’s new in the Lithuanian business landscape.

    Vilnius panorama