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Wednesday, 24.04.2024, 20:46
Revenue of Ossinovski's Latvian train repair plant climbs 45% in 9 months
The group's loss contracted 18% year on year to 2.0 million euros,
according to the unaudited report submitted to Nasdaq Riga.
The management said in the report that during the accounting period the
group exported its products to eight countries. Nine-month exports totaled 14.7
million euros, a 2.4-fold increase over the same period a year ago. The main
export markets in the first nine months of 2017 were the EU member states
Estonia, Lithuania, Poland and Finland, as well as non-EU countries Russia,
Belarus, Kazakhstan and Uzbekistan.
The management said that the loss was attributable to the reduction in
workload in the first quarter. Workload was sufficient in the second and third
quarters, but delayed deliveries of components hampered works. At present, the
company is operating at full capacity.
On Oct. 23, 2017, OU Lokomotiiv
Investeeringud, a shareholder of Daugavpils
LRR, made the mandatory share redemption offer on the shares of DLRR. The
offer has been made in accordance with a decision of the Financial and Capital
Market Commission from Oct. 17, 2017. The price per share under the offer is
0.44 euros.
The offer made by OU Lokomotiiv
Investeeringud will not have any impact on the employment policy of
Daugavpils LRR. The employees of Daugavpils
LRR will maintain their work places in accordance with the concluded
employment agreements.
Moreover, this offer will not have any impact on the business strategy of
Daugavpils LRR, as well as the fulfilment of the future plans. There are no
decisions to change the business profile or the location of the company, the
management said.
The share redemption offer is valid as of the next working day after its
publication in the official newspaper Latvijas
Vestnesis.
The duration of the offer is 30 days.
Daugavpils LRR shares are traded on the
Nasdaq Riga Secondary List.
The largest shareholders of DLRR
is the Estonian company Skinest Rail
with a holding of 47.97% of shares and the Estonian company Spacecom, part of the Russian Severstaltrans group, with 25.27%.