Spaniards to produce Hello Kitty toys in Estonia
08.02.2012, 16:51Spanish manufacturer Atienza & Climent Group, that, among others, produces Hello Kitty branded toys, has set up production in Tallinn.
The company that will launch its factory next week said it has invested 10 million euros in the project and is creating up to 60 jobs in a year.
CEO Jesus Atienza Serrano said that there were three reasons why the Spanish company decided to expand its manufacturing to Estonia.
“Estonia is in the EU, Estonia has the euro and Estonia is located between Scandinavian and Eastern Europe where our customers are which makes logistics cheaper,” said the executive.
According to the business executive, in comparison with Barcelona, production in Estonia about 30 percent cheaper despite the fact that raw material prices are slightly higher.
The company exports its products to Finland, Russia, Sweden, Poland, Italy, France and Germany.
Commenting the arrival of the Spanish manufacturer in Estonia, Javier Ortiz de Artinano, head of the Spanish Estonian Chamber of Commerce, said that as soon as one Spanish company sets up production in Estonia, the news spreads and generates interest.
“In January, we had enquiries from seven Spanish companies about Estonia including the Spanish competitors of Atienza & Climent,” he added.
At the end of 2011, Spanish companies had invested 46.6 million euros in Estonia that accounts for 0.4 percent of all foreign direct investments made in Estonia.
In the first year, the company expects to reach 8 to 10 million euros in annual revenues.
Atienza & Climent Group is founded in 1995 and has annual revenues of 80 million euros.