There, the company plans to set up a specialized magnesium alloy casting plant as well as a research and development laboratory for innovative alloys and materials, investing more than € 500,000 and creating at least 15 new jobs.
The discs are delivered to Formula 1 teams
“We chose to develop our business in Mežgarciems for several reasons – it is located close to Riga, an industrial zone with new infrastructure has been built and there is a pleasant atmosphere, because Mežgarciems is surrounded by nature. It is very important for us that employees feel good in the place where they have to work on a daily basis, ”says Eleonora Pole, Member of the Board of SMW Group.
The company plans to attract labor from the nearest surroundings – Vecmīlgrāvis, Rīga, Ādaži and Carnikava.
For more than 20 years, SMW has been producing bulky products made of light alloys – magnesium, aluminum, titanium, etc. Its main export product is the world‘s lightest stamped discs for the automotive and motorcycle industries, supplied to Formula 1, MotoGP teams and various supercars. and electric car manufacturers in Europe and the United States.
Business Park “Mežgarciems” is the largest new project in the Riga region, where new infrastructure and communications have been built and it is located only 25 km from the capital.
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Another seven industrial areas in “Mežgarciems” for the implementation of business development projects can be purchased at auctions organized by Carnikava County Council. The area of the land plots is 4192 – 11 657 m2, their starting price varies from 13,700 euros to 35,600 euros.
In total, as a result of the project implementation, it is planned to create 205 new jobs and attract 10.5 million euros of investment. The project is implemented with the support of the European Regional Development Fund. Its total cost is EUR 5,062,664.02.
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