Snaige AB

Regulatory Filings • May 6, 2020

Disclosure 383325

Snaige - Notification on material event

AB SNAIGĖ started production of professional refrigeration equipment

Global pandemic and global quarantine are not always holding back business development. AB SNAIGĖ has implemented a long-cherished goal - to start the production of professional refrigeration equipment for business. The first products in this category - the block refrigeration systems (monoblocks) for cold rooms – ware already delivered to customers and have already received positive feedback.

The block systems are wall-mounted refrigeration units for cooling or freezing, widely used for food storage in catering establishments, shops, agriculture, food processing companies.

According to Mindaugas Sologubas, General Director of AB SNAIGĖ, the production of professional refrigeration equipment is one of the company's strategic goals. "The production of professional refrigeration equipment will diversify SNAIGĖ's product portfolio, which has been very monolithic so far, covering essentially only one category and targeting only one market segment," said M. Sologubas. "This will help the company to reduce the impact of seasonality and fluctuations in product demand. And this, in turn, will ensure more even and efficient production as well as more consistent cash flows. ”

The new SNAIGĖ products are designed following the latest requirements for these products: their refrigerant R290 is environmentally friendly, the equipment itself is economical and uses little electricity, it has sealed compressors from Western European manufacturers, is easy to install and even easier to maintain.

The new block refrigeration systems are designed for all SNAIGĖ markets, but the largest sales are expected in the Western European countries. The company plans to sell new products for at least EUR 0.5 million in 2002, with further perspective to reach EUR 10 million turnovers of the industrial refrigeration equipment segment in several years.

According to the General Director of AB SNAIGĖ, the block refrigeration system is just the first step as a producer in the new market segment. "We will not stop there, we will introduce other products for professional refrigeration," says M. Sologubas.

General Director

Mindaugas Sologubas

Phone +370 5 236 1973