Major Acquisition Talks! Lithuanian Laser Giant Spends Millions To Expand U.S. Market

Altechna, a leading Lithuanian manufacturer of precision laser components and accessories, announced recently that it has opened a new modern laboratory, production and commercial complex in Vilnius, Lithuania.
As one of the "Three Musketeers" in the Lithuanian laser field, Altechna has been growing rapidly in recent years. The new site is said to be equipped with a range of state-of-the-art technologies to meet the growing customer demand and orders. Since 2022, Altechna has invested more than €8 million in cleanrooms and technical equipment, and the new site covers 3,200 square meters, including 1,700 square meters for laser optics manufacturing and opto-mechanical assembly. And the company is now planning a further expansion in the United States, which includes a major acquisition.
Supply chain changes: a growth strategy for the US market
Antanas Laurutis, CEO of Altechna, said that the breakthrough in the U.S. market is driven by changes in the global supply chain. As the U.S. actively seeks alternative suppliers outside of its home country, Altechna has developed a growth strategy specifically designed to meet the needs of its U.S. customers. Last year, the company achieved record revenues of €16.7 million, 30 percent higher than in 2021, and expects to reach a turnover of €18 to €20 million this year.
"The last few years have shown that there are many market opportunities in the U.S. It no longer wants to be totally dependent on China and is looking for new sources of supply," said Antanas Laurutis, "To take full advantage of this, last year we made the biggest investment the company has ever made. In addition, we have added to our management team a business development manager with extensive experience in world-leading companies. We are also currently in negotiations to acquire a U.S. technology company and expect to make additional acquisitions in the coming year."
Altechna has doubled its revenues in the U.S. market over the past few years. That number could triple by the end of 2023, according to Laurutis. At the same time, he expects exports to the U.S. to account for at least 25 percent of total revenue this year.
Also, Altechna is expanding big in Europe -- which has been Altechna's largest market. The company recently hired a new business development manager from Switzerland to strengthen its position in the DACH region, meaning Germany, Austria and Switzerland, and to look for new growth opportunities in its old continental European markets.
"We have a great team at home and in key foreign markets," Laurutis said, "and our experts have long proven they are the best in the world, so we feel strong and ready to make a leap. "
New launching point: surgery and quantum computing
Altechna's main products are optical components, divided into laser lenses, polarized lenses, laser crystals, nonlinear crystals and opto-mechanical components, but also optical components that have been integrated into several optical components in mounts or machinery, such as camera lenses. Optical components are made of glass, then cut, ground, polished and finally coated with dielectric or metallic coatings.
Currently, about 95% of Altechna's products are exported to EU countries, the US and Asian markets. These products are mainly used in optical systems and lasers, including surgery, semiconductor industry, materials processing, metrology and aerospace, for example, in lasers for eye surgery, scar removal, skin formation and kidney stones and other medical processes, or in semiconductor metrology systems, microscopes and satellites.
Laurutis notes that one of the future markets they are preparing to attack is quantum computing and related technology infrastructure: "We already have the first solution for this application and are actively looking for new ones." According to it, Altechna's R&D team is currently working in several directions, with scientists and engineers experimenting with technologies that could be useful in lithography, medicine and lidar systems for the automotive industry. At the same time, the company is participating in the EU-funded Horizon 2020 GALACTIC project, which uses Altechna's optical coatings on crystals to power lasers used to analyze climate change in space.
Capacity leverage: a multi-million euro investment
Altechna previously operated from two locations in Vilnius, Lithuania. In response to customer demand and the company's rapid growth, the company decided to invest in world-class laboratories, technical production facilities and offices that would allow R&D staff and management to work together in one location.
During construction, the company purchased three new optical coating machines and installed a clean room of about 500 sq. m. Laurutis says these investments have allowed for significant improvements in production capacity, quality and speed. He estimates that about €4 million was invested in the coating machines and their auxiliary equipment, the most expensive of which is probably the Bühler Helios magnetron sputtering coating equipment. Another 2.8 million euros will be invested in a clean room and office space.
According to internal estimates, these investments will increase its coating capacity at least threefold. In addition, the new equipment enables the company to manufacture higher quality, more complex products for its most demanding customers. All of this will help Altechna gain a competitive advantage and enter new markets.