14 January, 2020
14 Jan, 2020

LIGHT CONVERSION setting up spin-offs

LIGHT CONVERSION is splitting two businesses off its main business, to be conducted by two new spinoffs: UAB RAAV Nekilnojamasis Turtas and UAB RAAV Investicijos.

In the words of Romualdas Danielius, PhD, LIGHT CONVERSION President of the Board, this move is a long-planned and strategic decision to achieve optimum efficiency by crystallising the principal business and by splitting off those that are not related to the production of lasers and laser systems. ‘We are at a stage of expansion and crystallising our principal business of manufacturing lasers and laser systems by splitting operations not related to it will allow us to focus on a more efficient business management,’ says Mr Danielius.

The main business of LIGHT CONVERSION, UAB – production of lasers and laser systems – will remain intact, and the pending spin-off will not affect the company’s business and obligations in any way.

Real estate management will be assigned to a new spinoff, UAB RAAV Nekilnojamasis Turtas, while RAAV Investicijos will be tasked to manage LIGHT CONVERSION’s current investments.

We wish to remind you that early in January this year LIGHT CONVERSION, UAB announced plans to build an annex to accommodate laser system manufacturing facilities. Covering a total area of 11,200 sq. m, the facilities will include a series of laboratories, a laser system manufacturing line, research space, as well as a clean room unit of end-of-the-line clean manufacturing facilities designed for the assembly of highly sensitive laser components. Over recent years, the company has been undergoing rapid growth and development. The year 2013 saw a move to a new building in Dvarčionys. An additional scientific–research block was inaugurated in summer 2018, engaging in research and development of cutting-edge lasers. The gross area designated for research and manufacture currently stands at 6,500 sq. m.

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