Skandia will start operations in Vilnius in early 2016. Starting with 70 employees in Lithuania, the company plans to raise this number to 250 in three years. In looking to transfer some of its functions to Eastern Europe, Skandia also considered other cities such as Bratislava, Krakow, Lodz and Riga, but Vilnius was the winner.
“The reasons behind this choice include our desire to be cost competitive and our need for a labour force with a good educational background. We also contacted several other Swedish companies working in Lithuania and asked them for their opinion on operations in Lithuania. All of these companies were well satisfied, in fact most of them are actually expanding their businesses here” expains Bengt-Ake Fagerman, CEO of Skandia Liv.