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Friday, 26.04.2024, 02:05
Latvijas Finieris turnover increases by 44.7% to LVL 100 mln in 2010
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Last year the company sold 198,000 cubic meters of wood products, and its profit totaled LVL 9 million. In 2009, Latvijas Finieris posted LVL 5.73 million in losses, writes LETA.
Overall, Latvijas Finieris production volumes remained stable throughout 2010, and the company's exports kept steadily increasing, said the company's representative Jolanta Medne.
The amount of Latvijas Finieris reached LVL 79 million last year, and the company's earnings before interest, taxes, depreciation and amortization totaled LVL 22 million, informed Medne.
Latvijas Finieris group employed 2,030 people in 2010, or 155 people more than in 2009.
As reported, Ministry of Agriculture has prepared a bill for the Cabinet of Ministers, which provides that the state-owned forest management company Latvijas Valsts mezi (LVM) will buy 10 shares in Latvijas Finieris.
Russian wood processing company Sveza last year offered to pay LVL 10,000 for each Latvijas Finieris common share with voting rights, and LVL 1,000 per each share with restricted voting rights.
The Agriculture Ministry's bill does not indicate the amount of money LVM would pay for Latvijas Finieris shares.
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