On 5 April, President of Latvia Egils Levits, Mayor of State City Daugavpils Andrejs Elksniņš, Vice-President of Axon’ Cable Christelle Olivie and H.E. Mrs Aurelie Royet-Gounin, Ambassador of France to Latvia, inaugurated the new manufacturing plant of Axon’ Cable in Daugavpils. This plant will provide jobs to 700 people.
The core business of Axon’ Cable is design and manufacturing of cable connectors and interconnect solutions for defence, aeronautics, medical and other applications. SIA Axon’ Cable is one of the largest exporting companies in Latgale region. New plant will produce parts for automotive industry. Its clients will include well known European car manufacturing brands. Company’s cable solutions are also sought after by satellite communications sector.
In his speech, President of Latvia Egils Levits thanked French investors and underlined that these investments in Latvia and Daugavpils will boost company’s stability and sustainability. ‘Crisis caused by Covid-19, Russian aggression in Ukraine, global supply chain volatility has made many companies look for suppliers nearby, in Europe. Your decision to invest in Latvia and Daugavpils is a strategically smart step. Not only do you invest in manufacturing assets, labour force training to ensure that you can manufacture goods with high added values, but you also invest in local culture and community by supporting all the various cultural initiatives.’
