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project info
Start date: 13 November 2020
End date: 1 September 2023
funding
Fund: European Regional Development Fund (ERDF)
Total budget: 2 889 324,97 €
EU contribution: 1 017 263,74 € (35,21%)
programme
Programming period: 2014-2021
Managing authority: Finansų ministerija

JSC “Formula Air Baltic” investments in the deployment of digital technologies

The main activity of Formula Air Baltic is the production of non-domestic cooling and ventilation equipment. The company supplies all components of pneumo transport, as well as other equipment for filtration, ventilation and dust extraction. With this project, UAB Formula Air Baltic aims to introduce digital technologies in the company, thus increasing the level of digitalisation of the company and expanding the company’s production capacity, which will increase the productivity of employees, will help to create higher added value and thus productivity. The investment of EU funds in the project is very significant, as without EU support, the company would not be able to acquire all the envisaged digitisation technologies on its own, i.e. to implement the project on a smaller scale and in the longer term.

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