AKG is a worldwide manufacturer of coolers and heat exchangers for a broad range of industrial equipment and consumer appliances. The company has over 2,400 employees in 14 production facilities around the world, producing over 2.5 million units each year.
Its Latvian subsidiary, AKG Thermotechnik Lettland SIA, built its initial production facility in Latvia in 2005. The facility’s manufacturing focuses on coolers and cooling modules for construction equipment, agricultural equipment, compressors, and gas and diesel engines, serving customers in Europe, America and Asia. Among its clients are such industrial customers as Atlas Copco, CAT, CNH, Claas, Daimler, Doosan, Kaeser, Liebherr, Volvo, and many others. With the revenue of approximately 31 million Euros in 2014, the facility employs almost 220 people. The company built the site in the city of Jelgava, benefitting from Jelgava’s developed metalworking sector and long tradition in automobile manufacturing, as well as a low-cost industrial park with highly developed infrastructure.
“The factory in Latvia has the lowest production expenses of all AKG’s factories in Europe,” notes Dr. Gerhard Ritzmann- Member of the Board. “Our low costs have enabled Jelgava to produce radiators even for buyers in Asia, where local factories did not have the capacity to fulfill all incoming orders.”