Shock-absorbing rubber surface manufacturer RUBRIG has borrowed 1.13 million euros from Luminor Bank to expand its production line, with the aim of increasing its turnover by two million euros over the next two years, which would be 75% more than the company generated last year.
The company was founded in 2015 with the goal of offering high-quality, safe and visually attractive rubber surfaces. The company’s plant in Ādaži is equipped with modern, computer-controlled machinery specially designed for RUBRIG’s needs, while academic and research partners are also involved in product development and testing.
“Investment in the new equipment is part of our long-term development plan focused on a more efficient production process, a broader product portfolio and a stronger position in strategically important export markets. We continue to look for ways to produce smarter, adapt to market trends and ensure high quality throughout the production process. Financing from Luminor helps us reach these goals faster, adapt to demand and become even more competitive in the international market,” emphasizes Dainis Bonda, Chairman of the Board of RUBRIG. Export markets were important to the company already in its first years of operation, when, by manufacturing its product from recycled tires, it was exported not only to Europe, but also to more distant countries such as Argentina, according to la.lv archive information. Now the main export markets are the United Kingdom, the Netherlands, Germany and Scandinavia, with exports accounting for 90% of turnover.
RUBRIG incurred losses only in its first two years of operation, but over the past seven years the company has experienced stable growth and profit. The company employs 29 people, according to the Lursoft database.
RUBRIG develops surfaces that are used in sports and playgrounds, fitness clubs, shooting ranges and even horse stables. Some products are also used for sound insulation of walls and ceilings, for example in shooting ranges.
Originally published at https://inc-baltics.com/rubrig-aiznemsies-un-paplasinasies-cer-kapinat-apgrozijumu-par-75-divu-gadu-laika/
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