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“Yukon Advanced Optics Worldwide” is establishing a subsidiary company in Latvia
“Yukon Advanced Optics Worldwide” is establishing a subsidiary company in Latvia

The high-tech group of companies, “Yukon Advanced Optics Worldwide,” which specializes in developing civilian thermal and digital optical devices for night and day vision, is expanding its geographical presence by establishing a subsidiary company in Daugavpils, Latvia.

The production premises of “Pulsar Optics SIA,” a subsidiary of the company, will be used for assembling globally recognized PULSAR brand thermal imagers. By the year 2022, the number of employees in Latvia is expected to increase to 150, with production volumes reaching up to 40,000 units of optical devices annually. The company aims to achieve a turnover of 30 million euros in this country over the next few years.

“The establishment of the company in Latvia marks the next phase of our long-term strategy. The global market for thermal imaging devices has been rapidly expanding for several years, and to meet the growing demands of our consumers, we need to scale up our production. The choice of Latvia was optimal considering both the available specialists and the local investment climate with potential for business development. This aligns with the company group’s plans for further growth. Similar expansion plans are also in place for Lithuania and the United Kingdom,” says Aliaksandr Alsheuski, CEO of “Yukon Advanced Optics Worldwide”.

“Yukon Advanced Optics Worldwide” manufactures and sells internationally acclaimed optical devices under the PULSAR and YUKON ADVANCED OPTICS brands, holding leading positions in the thermal imaging and digital optical device markets. Last year, the group’s products were exported to over 70 countries worldwide, with 80% of exports going to the US and European markets. The development of complex IoT devices involves cutting-edge technologies, engineering solutions, and software designed for image processing and artificial intelligence.

“The entry of the optical equipment manufacturer ‘Pulsar Optics’ into Latvia confirms our ability to offer a competitive business environment. We are pleased that ‘Pulsar Optics’ chose Daugavpils as its business location. This demonstrates the significant potential for innovative business development beyond Riga,” says Janis Vitenbergs, Latvia’s Minister of Economics.

Latvia will be the seventh country where “Yukon Advanced Optics Worldwide” has its subsidiaries. The group also operates in Lithuania, Belarus, the United Kingdom, China, Russia, and Ukraine.

Viktoras Smirnovas, Director of “Pulsar Optics SIA,” states that the company is anticipating various challenges in 2021, and planned investments for company expansion are around 5 million euros. The company intends to invest in production equipment, train and increase the local workforce, and initiate the production process.

“Latvia is a very familiar country to us, not only in terms of geography but also culturally. The incentive for our investment decision and business initiation was the quality collaboration with Latvian business promotion organizations, information about the free economic zone in the Latgale region, and the incentives provided to foreign investors. We are delighted that our group of companies has entered this country. We are also ready to welcome a surge of new employees and expect to quickly reach the planned staffing levels,” says V. Smirnovas.