International Internet Magazine. Baltic States news & analytics
Sunday, 09.03.2014, 01:42
On February 25, 2014, the Bank of Lithuania approved a circular of SBA Furniture Group for the mandatory takeover bid regarding the shares of Lithuania-based furniture producer Klaipedos Baldai, the company reported LETA/ELTA.
Keyword tags: Banks, Investments, Legislation, Lithuania, Markets and Companies, Woodwork
During the twelve months of 2013, the Group consisting of GRIGISKES AB, Baltwood UAB, Klaipedos kartonas AB, Mena Pak PAT, and Klaipeda recycling UAB achieved the consolidate sales turnover of LTL 328.8 million (EUR 95.2 million). It is LTL 39.3 million (EUR 11.4 million) or 13.6 percent more than during the twelve months in 2012, informs LETA/ELTA.
Turnover of the Lithuania-based furniture producer Vilniaus Baldai during a period October – December, 2013, was 44,420 thousand litas, the same period year 2012 – 51,000 thousand litas, Vilniaus Baldai said in a statement, cites LETA.
One of the largest and well known furniture producers in Baltic region SBA Furniture Group acquire 5.036% of the shares of the company Klaipedos Baldai from the KJK Fund SICAV – SIF, informs LETA/ELTA.
The Estonian state-owned Estonian State Forest Management Centre (SFMC) earned a profit of 31.7 million euros in 2013, by 66% more than in 2012, LETA/Public Broadcasting reports.
According to the association of the investors, the proposal to withdraw from the market made by the Board of the Lithuania-based furniture producer Klaipedos Baldai under the leadership of Arunas Martinkevicius was a try to throw a wrench into the Lithuania's capital market and to show that rights of the small businesses in Lithuania were not protected, informs LETA/ELTA.
As Lithuania-based wood processing company Grigiskes reported, the group's sales in 2014 are forecasted to grow by 9% up to 360 million litas and profit before tax to grow by 49% up to 20 million litas, Grigiskes said in a statement, writes LETA.