Global cable provider NKT sets up shared service centre in Kaunas

NKT, a leading global power cable manufacturer, has chosen Kaunas for its shared service centre, with plans to employ at least 30 finance professionals by the end of 2018.

“In NKT, we are constantly striving for excellence and the shared service centre plays a key role in standardizing processes and taking our financial services to the next level. We chose Kaunas after a thorough analysis and with strong support from Invest Lithuania. In Kaunas we find the experience, expertise and professional culture needed to build a financial competency cluster meeting our current and future requirements,” says Poul Erik Stockfleth, Vice President, Head of Group Finance at NKT.

“Access to local talent was a key reason for choosing Kaunas over other European cities. In Kaunas, we have also found excellent infrastructure and now we are looking forward to getting started with the team in our new office at the Kauno Dokas Business Centre situated on the bank of the River Neris,” Mr Stockfleth adds.

“NKT believes in the specialists in Kaunas and their drive and ability to improve processes and change systems. These features will help the company to implement internal projects quickly and efficiently. The first employees have already started their training and we are looking forward to add more to the team later this year,” says Ilona Antonovičiūtė, Head of the new NKT Service Centre in Kaunas.

The cluster of service centres in Kaunas has grown strongly in recent years, Minister of Economy Virginijus Sinkevičius observes.

“This is evidenced by the fact that a global company like NKT has entrusted its first shared service centre to Kaunas as an investment location. The decision of NKT and the success of such Kaunas incumbents as Intermedix, Festo and Dematic enables us to foresee great prospects for this industry in the city – a process that both Invest Lithuania and the Ministry of Economy have been talking about for several years now.”

NKT has pioneered the cable industry for more than 125 years. It is a leading power cable provider connecting the world with a wide portfolio of cables within such areas as construction, energy distribution. It also focuses on the growing offshore wind industry and the development of global power grids. The company employs more than 3,400 employees, and in 2016 reported a revenue of €1 billion.