EU projects
UAB “Ferrum Group” is implementing the project “Implementation of Non-Technological Innovations.” The project’s goal is to develop and introduce new product designs to the market, implement process and organizational innovations, and thus increase export volumes and integration into international value chains.
UAB “Ferrum Group” is making strategic decisions regarding the financing and direction of innovation activities at the company level. It has been decided to invest in organizational and process improvement tools that will not only enhance productivity but also strengthen competitiveness in foreign markets by increasing exports.
The planned implementation of organizational and process innovations will significantly improve the current lack of systematic production processes, enhance employee competencies, and ensure more efficient task execution. To improve the company’s image, increase work quality, and gain a competitive advantage in the market, these innovations are essential. Additionally, the project will contribute to the development and introduction of new products, further expanding the company’s export potential.
The project is being implemented under the Economic Transformation and Competitiveness Development Program, under progress measure No. 05-001-01-05-07, “Creating a Consistent Innovation Promotion System,” specifically within the activity “Encouraging the Development of Non-Technological Innovations (Central and Western Lithuania Region).”
The total project value is €205,047.28, of which €102,523.64 is funded by the European Regional Development Fund. The project implementation period is from November 6, 2024, to November 8, 2026.
UAB “Ferrum Group” is implementing the project “Export Market Expansion.” The main goal of the project is to increase competitiveness and internationalization. The project’s activities are focused on promoting the export of the company’s products, searching for new export markets, and expanding existing markets to enhance the company’s competitiveness. During the implementation of the project, the company will participate in international exhibitions abroad, showcasing its products. The project’s implementation will contribute to the growth of exports and overall turnover, the increase in the company’s competitiveness, and further business development.
The project is being implemented under the Economic Transformation and Competitiveness Development Program, progress measure No. 05-001-01-11-04 “Implementing measures to promote export competitiveness growth,” activity “Encouraging the internationalization of SME activities and the identification of new export markets (Central and Western Lithuania region).”
The total project value is 68,071.00 EUR, of which 34,035.50 EUR is funded by the European Regional Development Fund. The project implementation period is from July 18, 2024, to November 10, 2025.
UAB “Ferrum Group” is implementing the project “E-sales transaction solutions implementation and visual configuration.” The main goal of the project is the digitization of the services provided, optimization of order processing processes, by implementing e-sales transaction solutions, service configuration, and visualization tools. Thanks to the implemented solutions, order submission in the digital space will become more convenient, resources for their management will be optimized, and greater expansion opportunities will arise.
The project is being implemented under the 2022–2030 development program managed by the Ministry of Economy and Innovation of the Republic of Lithuania, within the framework of the economic transformation and competitiveness development program, measure No. 05-001-01-05-05 “Encourage companies to digitize,” activity “Encouraging the digitization of very small, small, and medium-sized enterprises by funding the implementation of e-sales transaction solutions, service and product configuration, and visualization” (Central and Western Lithuania region).
The total project value is 98,190.00 EUR, of which 49,095.00 EUR is funded by the European Regional Development Fund. The project implementation period is from June 2024 to June 2025.
