“Luminor“the bank has granted a loan in the amount of EUR 4.95 million to one of the largest Latvian technology production companies AS”SAF technology“, reports the bank.
The content will continue after the announcement
Advertising
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.
“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, bringing the world’s smallest microwave spectrum analyzer series “Spectrum Compact” to the market, as well as creating a sensor network solution wireless for environmental analysis and monitoring – the “Aranet” brand (IoT segment – Internet of Things).
“The company’s brand and product line “Aranet” – continues to play an important role in the development of the business, operating in different business segments, including agriculture, building management and the public sector. The sensor quality control “Aranet4” is still in demand, boosted both by the impact of Covid-19 and by buyers’ understanding of the importance of air quality and ventilation not only to limit the spread of viruses, but also to improve cognitive and working skills.Work around the world promotes the demand for data transmission capacity 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 in order to create new products and improve existing ones that meet changing customer needs,” says Zane Jozepa, Board Member of JSC “SAF Tehnika”.
The company’s products are known 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.
The tech sector is still at its peak, says Ilze Zoltner, head of Luminor’s corporate department, noting that the bank’s support will help one of Latvia’s pioneers in this field compete with industry “giants” from around the world. “The Covid-19 pandemic has not hurt the company’s growth either, 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 share of information technology in Latvia’s export basket of goods and services, as the technology sector will continue to be very promising,” he stresses.
AS “SAF Tehnika” is a Latvian manufacturer of microwave data transmission equipment, measuring devices and wireless sensors. The company’s products provide wireless telecommunications solutions for digital voice and data transmission. It exports its products to more than 130 countries around the world. “SAF Tehnika” is a subsidiary company ASV: “SAF North America LLC” operating in Denver, Colorado as well as the more recently established company “SAF Tehnika Asia” in Singapore. The company’s shares are listed on the stock exchange”Nasdaq Riga” in the official list.
