Record year and new horizons: ambitions of “Iremas” for the export and defence sectors

From a repair shop as part of a large concern to an independent, large-scale and rapidly growing company – such is the development of UAB “Iremas” over more than 25 years of operation. One of the most significant turning points took place after 2018, when the company, which had previously worked almost exclusively for “Achema Group”, decided to change direction – to enter international markets and independently expand the order portfolio.

Although “Iremas” still is part of “Achema Group”, the actual turning point, according to the CEO Edmundas Damaševičius, happened in 2018. “Then we had to decide whether we would remain an internal repair shop or become an independent market player. We chose the change, and it was one of the best decisions in our history,” the CEO of the company told VZ.LT website of “Verslo žinios”.

Over the past six years, the company has invested about 15–16 million EUR into development. These funds were allocated for the acquisition of modern equipment, technology upgrades, and infrastructure development. However, according to E. Damaševičius, investments alone were not enough; it was necessary to change the organizational culture and mindset.

“To become an attractive partner in the international market, it is not enough to just have equipment. The most important component is people, their responsibility, attitude and ability to cooperate with customers with complex requirements. This change is still ongoing,” noted he.

Until 2018, even 80–85 percent of activity of “Iremas” comprised orders from “Achema Group”. Today, their share has decreased to approximately 45 percent, and the rest of the portfolio consists of other clients and export projects. Last year, the export share reached approximately 35 percent.

The company carries out work in Finland, Germany, Norway, Denmark, and Sweden, and the products of the company – components, non-standard equipment, and other products – reach about 15 foreign countries.

This year, “Iremas” is planning a record investment of 2.8 million EUR, which will be directed towards production expansion and new activities, including the production of components for the defence sector.

Plenty of work until 2026

Focused on the heavy industry segment, “Iremas” works with the largest chemical, oil, energy and fertilizer production companies. In addition to “Achema”, the most important clients in Lithuania include AB “Orlen Lietuva, “Viada LT” group, AB “Klasco”, UAB “Ignitis” and other companies. “Iremas” provides equipment maintenance, design, repair and technical maintenance services to these companies – that is one of the main areas of the activity of the company.

Another area of ​​activity is the production of components and equipment for foreign markets. This activity accounts for about 95 percent of production orders, mainly from Scandinavian countries and Germany. Orders include equipment for the furniture, paper, and woodworking industries. In addition, “Iremas” is more and more actively involved in renewable energy projects, cooperating with wind turbine constructors and other market participants.

In 2022, “Iremas” won the largest order during the entire history of the company, requiring a lot of resources and knowledge – the construction of a deep oil refining facility in Mažeikiai contracted by “Orlen Lietuva”. The contractor for this project is the British company “Petrofac”, and “Iremas” is one of the main subcontractors.

“We are not afraid to undertake large and complex projects. The basis of our success is the ability to offer comprehensive solutions from design to implementation. Last year only confirmed this: revenue reached 34 million EUR, profit (EBITDA) – 3.5 million EUR,” claimed E. Damaševičius.

According to the CEO, the order schedule is currently filled until at least 2026. The biggest challenge is not lack of work, but the shortage of highly qualified specialists.

Ready to meet the needs of the defence industry

“We have been cooperating with “Rheinmetall” since 2018. We are fully prepared to implement large orders from the Lithuanian defence sector. Unfortunately, although the importance of this sector has been widely discussed for several years, we have not yet seen a breakthrough. Cooperation between business and institutions has not yet reached the required scale. Lithuanian industry has potential, but it remains unexploited,” regretted E. Damaševičius.

According to the CEO, business needs clarity and direction. “Now we receive delegations, present our capabilities, receive praise, but we still do not receive any real defence orders from Lithuania,” explains he openly.

“Iremas” has already acquired all the necessary certificates, which ensure the highest level of quality and compliance with the strict requirements of this sector.

Open to young people and leadership based on values

The CEO of “Iremas” does not keep it a secret that engineering and mechanics are not the most attractive sectors for young people today. “Our sector is still not well known. It is not popular; therefore, young people often do not even consider it when choosing a career path,” explained E. Damaševičius.

Realizing this gap, the company took independent action: established a training base, where the company trains both people with no experience at all and people from other fields who have technical background. “Later, they work with the equipment, learn practically, and when they achieve results, we review their salary. The benefits are mutual,” noted the CEO.

He believes that cooperation with higher education institutions is essential if we want to nurture talent and create innovations. “Iremas” maintains close connections with the Faculties of Mechanics and Construction Engineering of Kaunas Technological University (KTU), and students are invited to get acquainted with the activity of the company, do internships, write their final thesis, get involved in processes, and if necessary, assist in solving real challenges.

“The company is open to people who are curious, thoughtful, willing to work, learn, and not necessarily the best in terms of grades. Knowledge can be gained while working. Sometimes I tell the team: invite students from the bottom of the list, often that’s where the greatest potential lies. I’m one of them myself,” smiled E. Damaševičius.

His own career is also an example of internal career. Having started as a designer at AB “Achema”, he joined “Iremas” in 2006 as an engineer. Having stepped up across all the ranks in the company, he has been managing the company for eight years already.

“The human relationship in the company is very important to me, I never follow the principle of “divide and conquer”. I strive for warm and trustworthy atmosphere to thrive among the employees. Changes do not take place because of strikes, but rather through communication and reaching agreements. If we fail to reach an agreement, we part ways. By the way, critique is welcome at our workplace, but it is of utmost significance for it to be followed by suggestions and responsibility,” highlighted the CEO.

No year is easy for the CEO

The Chief Executive Officer is quite open: none of the years of running the office were uncomplicated. Changing the focus of the activity, the pandemic, constant changes – every step brings its own challenges.

“We caught every disease that young growing companies are susceptible to. Nevertheless, we are willing to keep on growing, increasing our portfolio, concentrate our capacities and opportunities suitable for the defence industry. Therefore, we are in search for new people, who would contribute to sustainably moving forward,” summed up E. Damaševičius.

According to him, sustainable growth of the company is impossible without clearly defined direction and foundation of values. Thus, the employees of the company are often reminded the mission and vision of the company and the guidelines followed in everyday activities. “The values we foster include leadership, professionalism, responsibility and innovation are not merely beautiful words or slogans, but pre-defined attitudes that are reflected in our decisions, relationships and work culture,” emphasized the CEO.

According to him, leadership embodies the ability to work in a team, to see wider horizons beyond the limits of personal liability and not to fear the decision making. Professionalism encompasses constant development, sharing knowledge and understanding that the value of the services is created not just by their scope, but by their quality and flexibility as well. The responsibility is revealed by showing respect to both human beings and the environment, following the principles of ethics as well as responsible attitude towards the work – from communication to safety. Whereas innovation, according to E. Damaševičius, includes not only the technologies, but also the curiosity of people, willingness to change, learn and search for better solutions. He is convinced that “every employee can become an initiator of changes, all it takes is to create suitable preconditions for their implementation”.

“I do understand that often these values seem distant to our employees. Nevertheless, I strive to bring this essence closer to people. Each one of them is able to embody one of them,” added the Chief Executive Officer of the company.

Today “Iremas” is more than modern metal industry company, but also an example, how consistent strategic solutions, leadership based on values and courage can upgrade the business company to an entirely new level. With solid foundation, well-defined direction and clear understanding, what kind of people are needed, the company looks straight forward into the future encompassing growth of export, breakthrough of defence industry and nurturing talents in Lithuania.