A. Paukštys, the founder of the “Teltonikas” group of companies, is leaving the position of manager | Business

This is to distinguish companies that develop Internet of Things products from companies that provide electronics manufacturing and component supply services, and companies that manufacture and design semiconductor chips.

The founder of the group of companies, Arvydas Paukštys, hands over the management of the Teltonikas group of companies and remains in charge of the investment management company AGP Investments. Marius Derenčius is taking over the position of president in the company “Teltonika IoT Group”, which manages the companies of the “Teltonika” brand, and from now on the “Teltonika” group of companies will be headed by Marius Derenčius. He started his career at Teltonika more than a decade ago, and most recently held the position of vice president responsible for business development of the group companies.

Company photo/Marius Derenčius

“The changes were caused by the business development plans of the investment company AGP Investments, which we consistently increase the number of businesses we develop. I am handing over the management of Teltonikas to an experienced manager who has been taking care of business development of Internet of Things products for several years. I believe that this change will allow Teltonikas to focus on ambitious growth plans worldwide, and my greater involvement in AGP Investments projects will help other businesses grow faster,” says A. Paukštys, who together with family members owns 100 percent of the company. shares of AGP Investments.

According to the decision of the shareholders of AGP Investments, new groups of companies will also be formed, which will work separately from the companies of the Teltonikos brand. Their activities will include electronics manufacturing services and semiconductor chip design and manufacturing.

These activities will be developed in the technology park “Teltonika High-Tech Hill” being built in Vilnius. In Liepkalnis, more than 10 new production and administrative buildings will be built in the 55-hectare Teltonika High-Tech Hill park in several stages over the course of five years. It is planned to employ about 6 thousand people here. employees.

Currently, three new factories are being built here, where by 2025 production of printed circuit boards (PCBs), plastic and mechanical components will begin, and a new electronics assembly plant will begin operations with a production capacity of more than 18 million units. products per year. Total investments in the Teltonika High-Tech Hill park will amount to several billion euros.