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International Internet Magazine. Baltic States news & analytics Monday, 21.01.2019, 14:26

Lithuania's Vilpra expanding in Baltics

BC, Vilnius, 12.01.2018.Print version
Vilpra, the Lithuanian heating and conditioning systems trading company, intends to set up offices in the capitals of Latvia and Estonia this year to help administer increased sales, Verslo Zinios business daily said, cites LETA/BNS.

Martynas Vegele, CEO at Vilpra, said 2 million euros worth of products had been sold via agents in Latvia and Estonia in 2017, with the sales expected to grow by 15-20% this year after the launch of the offices.

"We will continue working with the agents, however, the scale has increased, therefore, we need to have a structure of our own and maintain the market to smoothly administer and boost sales, it will also bring us closer to our clients and wholesalers," Vegele said.

According to Creditinfo data cited by the daily, Vilpra generated 14.38 million euros in sales in 2016, netting a profit of 184,000 euros.

The company currently has 143 employees, according to information provided by the state-run social insurer Sodra. Vilpra is part of Vilpros Grupe (Vilpra Group), with shares owned by members of the Vegele family.

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