“SAF Tehnika” grants a 4.95 million euro loan for development

Luminor“the bank granted financing in the amount of EUR 4.95 million to one of the largest Latvian technology production companies AS”SAF Technology“, reports the bank.

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It is intended for working capital, so that the company can implement ambitious projects, achieve an increase in business volume, compensate for the increase in the prices of raw materials, as well as provide itself with additional savings.

“SAF Tehnika” is a manufacturer and exporter of wireless data transmission equipment. The company’s products provide wireless solutions for digital voice and data transmission, for mobile and fixed network operators, data transmission providers, private and public companies. The experience and knowledge accumulated over more than 20 years have enabled the development of a series of innovations, launching the world’s smallest microwave spectrum analyzer series “Spectrum Compact” on the market, as well as creating a wireless sensor network solution for environmental analysis and monitoring – the brand “Aranet” (IoT – Internet of Things segment).

“The company’s brand and product line “Aranet” – continues to play a strong role in business development, operating in several business segments, including agriculture, building management and the public sector. The indoor air quality sensor “Aranet4” is still in demand, boosted by both the impact of Covid-19, both buyers’ understanding of the importance of air quality and ventilation not only in limiting the spread of viruses, but also in improving cognitive and work abilities. On the other hand, remote or hybrid-type work around the world promotes the demand for data transmission capacity and data quality improvements, which “SAF Tehnika” is able to provide.

The availability of working capital is important in order to further expand our operations, to ensure procurement volumes and terms, as well as to be able to fulfill most orders within the usual execution times. We continue to invest in scientific research and development in order to create new and improve existing products that meet the changing needs of customers,” says JSC “SAF Tehnika” board member Zane Jozepa.

The company’s products are known and used worldwide in both the public and private sectors. The areas where various wireless solutions are used are constantly expanding, maintaining their dominance in mobile communications, internet service provision, industrial industry, financial industry, media, horticulture and many other sectors.

The technology sector is still at its zenith, says Ilze Zoltner, head of the Corporate Department of Luminor, noting that the bank’s support will help one of Latvia’s pioneers in this field to compete with the “giants” of the field from around the world. “The Covid-19 pandemic has not harmed the company’s growth either, on the contrary – the company has successfully used this time to develop and improve its products. With the support of “SAF Tehnika”, we hope to promote an increase in the share of information technology in Latvia’s export basket of goods and services, as the technology sector will continue to be very perspective,” she emphasizes.

AS “SAF Tehnika” is a Latvian manufacturer of microwave data transmission equipment, measuring devices and wireless sensors. The company’s products provide wireless telecommunications solutions for digital voice and data transmission. It exports its products to more than 130 countries around the world. “SAF Tehnika” is a subsidiary company ASV: “SAF North America LLC” operating in Denver, Colorado, as well as the more recently registered company “SAF Tehnika Asia” in Singapore. The company’s shares are listed on the stock exchange “Nasdaq Riga” in the official list.

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