Latvia, Logistics, Markets and Companies, Transport

Kampars said that the opening of new business facilities used to be customary thing a couple of years ago, but now each such occasion becomes an event of significant importance, informs LETA.

The minister is pleased that the Latvian economy has not come to a halt, and hopes that Spilva will continue expansion in new markets as creating competitive products is the key to the development of Latvia.

The state will support enterprises that can compete outside Latvia, Kampars said.

The construction of the logistics center started at the end of the last year, a total of approximately LVL 2.5 million was invested in the development of the logistics center.

The total area of the facility is over 6,000 square meters, including warehouse area of 4,000 square meters.

As reported, Spilva turnover reached LVL 13.8 million last year - a 13 percent increase on 2007.

The company also posted LVL 695,920 in profit last year, or 30 percent less than in 2007, when the company earned LVL 989,102.

LVL 3 million was invested in the development of  Spilva in 2008 and the company paid LVL 1,493,352 in taxes.

Last year, 86 percent of Spilva products were sold on the local market, and the other 14 percent were exported, mostly to Russia, Estonia and Lithuania.