EU – Baltic States, Latvia, Legislation, Markets and Companies, Metals Market

A delegation from Siemens visited the Liepaja plant in December. According to Talanov, the project deals with installing new equipment in the electric smelting facility that would enable the company to make hot rolling products from molten steel.

The technology offered by Siemens would reduce production cost by 50 percent. Liepajas metalurgs and the German company have discussed technical aspects of the equipment but not financial aspects of the deal, while investments in the project are estimated at about EUR 70 million. Talanov said it could be financed by a consortium of banks and Siemens.

Talanov went on to say that KVV Liepajas metalurgs was now able to make rebars of 8-25 millimeters in diameter, up from 8-16 millimeters at the time the metallurgical company belonged to Kirovs Lipmans, Sergejs Zaharjins and Ilja Segals.

KVV Liepajas metalurgs put out 22,000 tons of products in January. This was determined by two factors – the amount of raw materials that the company could buy at low price, and the amount of products that the company was guaranteed to sell.

At the moment, KVV Liepajas metalurgs mostly ships its products to companies with regional warehouses in Germany, Poland, Sweden, Finland and Norway, added Talanov.