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Ingemann Maskinfabrik was established in Denmark in 1975 as a machining and component producer, mainly working as a sub-supplier. The company has high focus on using CNC technologies. They had a need to find ways to decrease production cost and wanted to find a producer in Lithuania, where production prices where lower, where they if taking the ownership would get control and could transfer Danish know-how, making the Lithuanian company a reliable supplier at the right prices (with increased efficiency) and be a good investment itself. 1.Q consult presented to Ingemann Maskinfabrik initial information about the investment possibilities in Lithuania. The Lithuanian company Precizika Metrology was one of the suggested companies. 1.Q consult was engaged in making analyzes, coordinating the negotiations, performing due diligence and finally the taking over procedures of the metal department of Precizika Metrology. The newly bought company is now called Precizika Metal. The Lithuanian company Precizika was established more than 35 years ago as a Vilnius branch of the scientific manufacturing company ENIMS of the former USSR. After take over 1.Q consult were hired to perform interim management and replace the “missing Dane” securing understanding of the cultural and management differences between the Danish owners and the Lithuanian team of 70 workers and the necessity of needed changes in the methods of running the company. 1.Q consult were involved into transferring of Danish know-how, securing better production flow, introducing new management way and solving many of the start up problems. As a part of the start up process a strategy seminar was arranged, during which future organization plan and 3 years strategy plan including an action plan were agreed upon. The strategy seminar was held by Bo Rasmussen – the new responsible for 1.Q consult department in Denmark. He is recognized specialist in performing strategy seminars based on HOSHIN philosophy and tools. The seminar was very important to create the strategy itself and built the Danish owners and the Lithuanian management team together giving them good time to discuss and combine all their ideas for the first time. |