Luminor bank supported one of the largest Latvian technology manufacturing companies, AS SAF Tehnika, by providing financing in the amount of EUR 4.95 million. It is intended for working capital, so that the company can carry out ambitious projects, obtain an increase in turnover, compensate for the increase in raw material prices, as well as provide itself with further savings.
“The tech sector is still at its peak and we are delighted to support one of Latvia’s pioneers in this field to compete with industry ‘giants’ from all over the world. Not even the Covid-19 pandemic has hurt the growth of the company, on the contrary: the company has successfully used this time to develop and improve its products.With the support of SAF Tehnika, we hope to promote an increase in the share of information technology in the export basket of goods and services of the Latvia, as the technology sector will continue to be very promising,” he says Ilze Zoltner, Head of Luminor’s Corporate Department.
SAF Tehnika is a manufacturer and exporter of wireless data transmission equipment. The company’s products provide wireless solutions for digital voice and data transmission, for mobile and fixed network operators, data transmission providers, private and public companies. The experience and knowledge accumulated over more than 20 years has enabled the development of a number of innovations, launching the world’s smallest microwave spectrum analyzer series, Spectrum Compact, as well as creating a wireless sensor network solution for the environmental analysis and monitoring: the Aranet brand (IoT – Internet of Things segment).
“The Aranet company brand and product line continue to play an important role in the development of the business, operating in various business segments, including agriculture, building management and the public sector. The quality sensor of the indoor air Aranet4 is still in demand, driven by both the impact of Covid-19 and consumer awareness of the importance of air quality and ventilation not only to limit the spread of viruses, but also to improve cognitive and working skills On the other hand, the type of remote or hybrid work across the globe drives the demand for data throughput capabilities and data quality improvements, which SAF Tehnika is able to provide.
The availability of working capital is important to further expand our operations, to secure supply volumes and terms, as well as to be able to fulfill most orders within the usual lead times. We continue to invest in scientific research and development to create new products and improve existing ones that meet the changing needs of our customers,” he says. Zane Jozepa, Board Member of AS SAF Tehnika
The company’s products are widely recognized and used worldwide in both the public and private sectors. The areas where various wireless solutions are used are constantly expanding, maintaining their dominance in mobile communications, Internet service provision, industrial industry, financial industry, media, horticulture and many other industries.
Luminor
