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International Internet Magazine. Baltic States news & analytics Thursday, 24.09.2020, 08:11

Latvia`s iCotton plans to purchase diaper production line for EUR 2.007 mln

BC, Riga, 17.09.2020.Print version
Liepaja hygiene products maker iCotton plans to purchase a diaper production line with automatic packaging for EUR 2.007 mln, according to information published on the internet website of the Procurement Supervision Bureau writes LETA/BNS.

Candidates may apply by September 30, and the production line should be delivered by June 30, 2021.


iCotton, founded in 2013, is one of the largest producers of cotton products, wet wipes, and hygiene products in the European Union and C.I.S. countries with some of the most modern production facilities in Europe. 95% of its output is exported, and the company's main markets are the Baltic states, Russia and Ukraine.


ICotton board chairman Sergejs Binkovskis said earlier that in 2019 the company's turnover reached EUR 25 mln, while in the first three months of this year it was EUR 6.5 mln.


According to Firmas.lv, 98.16% of iCotton shares belong to Russian citizen Maralbek Gabdsatarov and 1.84% to Dmitry Renev, also a citizen of Russia.


The company's share capital is EUR 8.15 mln.







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