BALMET Group Cluster Development in Foreign Markets
The aim of the project is to increase the attractiveness of companies of BALMET Group cluster in the international market.
The essence of the project:
Lithuanian companies specializing in wood and metal product manufacturing find it difficult to integrate into international markets with unknown brands, small and medium-sized companies are unable to fulfil large orders due to lack of production capacities and therefore cannot attract large buyers of goods and services, companies working individually are unable to optimize all stages of product development cycle, when the production of goods requires components from different fields (plastics, wood, metal, rubber, etc.), which results in no high value-added products being developed. In order to solve the above-mentioned problems and to eliminate the main reasons preventing the competitiveness of companies in the wood and metal manufacturing sector and to facilitate entry into large foreign markets, the cluster of BALMET Group is planning to implement synergy-based activities of its companies directed towards the search for new export markets, international networks, adaptation of production and individual products to foreign markets, search for new customers in foreign markets, etc. The BALMET Group cluster includes companies working in the wood and metal sectors that are able to integrate their own products of Lithuanian origin into the added-value creation chains of products such as wooden furniture with metal structures, equipment for the medical, precision and optical equipment manufacturing industry, etc.
The project is expected to help solve the problems of internationalism in the companies of the BALMET Group cluster, ensure effective participation of wood and metal manufacturing companies in the fullest possible chain of value creation or its most important stages, help popularize Lithuanian brands in foreign markets, promote growth of export in the cluster companies. EU support is necessary for the project, because the funding will allow the project to be implemented in an integrated and larger scale. Without EU support, the project would be carried out on a smaller scale, which would prevent the achievement of the goals and results set within the planned period.
The project is funded by the European Regional Development Fund under Operational Programme for the EU Funds’ Investments in 2014–2020 Priority Axis 3 ‘Promoting competitiveness of small and medium-sized business’ 03.2.1-LVPA-K-807 Business cluster LT.
Project No – 03.2.1-LVPA-K-807-02-0013
Project implementation period – 2019 – 2021
Value of the project – EUR 440,997.04
Amount of support for the project – EUR 284,697.14