Latvia, Markets and Companies, USA

The subject of the agreement is 10% of the shares of the company P-D Valmiera Glass USA Corp. with total value of USD 10,000,000 USD. Lamtec Corporation will be the shareholder and the shares will devolve into the ownership of Lamtec Corporation at the moment when all the terms of agreement will be fulfilled. Once the agreement has taken place, Valmieras Stikla Skiedra will provide detailed information.

As reported, in March 2015, the first plant of joint stock Valmieras Stikla Skiedra subsidiary company P-D Valmiera Glass USA Corp, with an area of 7,400 square meters was officially opened in Dublin, Georgia. At the first stage, USD 20 mln were invested and 150 jobs were created; the second stage, along with expansion, provides for creating 425 additional jobs and investing another USD 90 mln by 2022.