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Agrosfera plans expansion in Latvia
BC, Riga/Vilnius, 06.02.2018.
Print version
Print versionAgrosfera, a Lithuania-based agricultural commodities trading company in which the Icor Group plans to buy a 60 percent stake, is planning to expand its operations in Latvia, informs LETA/BNS.
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"In 2018, the company plans to sharply increase its authorized capital
and to receive more working capital, thus projecting higher sales and,
consequently, higher profits. The company plans significant expansion in
Latvia," Agrosfera said in its
annual report.
Agrosfera has a same-named
subsidiary in Latvia and its expansion is linked to Icor's plans to acquire 60
percent of shares in the company for an undisclosed amount of money through a
new share issue.
Agrosfera posted EUR 36.062
million in revenue for the past financial year, up 13.2 percent from EUR 31.865
million a year earlier.
Agromeril, an Estonia-registered company co-owned by Agrosfera CEO Arminas Kildisis, currently holds 100 percent of
shares in the Lithuanian company.
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