Foodstuff, Good for Business, Investments, Latvia, Markets and Companies

The renovation was started in October, 2013, using income from selling emission quotas complying with the Kyoto Protocol. The eligible costs of the project are 687 453 euro, the co-financing of the Climate Change Financial Instrument is 45%.

Renovation primarily consisted of replacing obsolete production facilities. The previous manufacturing system was not efficient, as it produced great losses of energy and water.

After the reconstruction the planned reduction of natural gas consumption of is about 13.5%, but the electric power consumption – by about 7.5%. In addition, the reconstruction of the production facilities will improve the environment and people's quality of life by cutting down air pollution in Riga.

As previously reported, the turnover of Laima were 10.84 million euros, which is by 11% more, comparing to 9.81 million in previous year, informs Firma.lv.

The profits of the company have risen more than fivefold – from 1.12 million in 2012 to 5.75 million in 2013.

Laima along with Staburadzes konditoreja Ltd, JSC Staburadze, Gutta Ltd, and NP Logistics Ltd is a member of NP Foods company group. The company employs 289 people.

The turnover of NP Foods was 64.32 million euros in 2013; in previous year – 58.77 million euros. Last year, the profits of the company were 1.107 million euros, but in 2012 – only 304, 584 euros.

NP Foods is owned by partnership Nordic Partners Food Limited, which is registered in Malta. According to the information from LETA archive, the shareholder of 51% shares of the partnership is Nordic Partners which is owned by Latvian entrepreneurs. The largest shareholder is Daumants Vitols.