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SIA Ventspils ventilatoru rūpnīca produces industrial fans of all types and modifications – low, medium and high-pressure radial fans, smoke extractors, dust, roof and axial fans, as well as various types of metal structures. The company ensures full-cycle production: fan parts are cut by a laser from sheets of steel, aluminium or stainless steel, further treated by welding specialists, and finally cleaned and painted in the modern powder coating shop.

The company is planning to add two new units to the plant's equipment to increase production capacity and provide high-quality metal cutting and folding services to make it possible for the company to significantly increase turnover and expand cooperation with existing and potential customers. The total cost of new equipment is 259 thousand euro, of which 210 thousand are provided by Luminor with an Altum guarantee, while the remaining 49 thousand are the company's own contribution.

SIA Ventspils ventilatoru rūpnīca is the only company producing fans in the Baltic States – it is a narrow but important area of activity. Products produced by the company are mainly used in sectors such as textiles, woodworking, metalworking and chemical industry, therefore companies in these industries can order fans right here in Latvia instead of relying on long supply chains. It is important that Ventspils ventilatoru rūpnīca ensures full-cycle production that allows fans to be fully adapted to customers' needs. "We are glad that we can support this company and contribute to its development", says Ilze Zoltnere, Head of Corporate Department at Luminor in Latvia.

Sergejs Mihaiļuks, Member of the Board of Ventspils ventilatoru rūpnīca, indicates: "We sell the products we produce here in Latvia, and also export them to Germany, Switzerland, Lithuania, but we want to expand production and export volumes. We are particularly glad that Luminor has decided to support metalworking industry in these difficult times and has granted us the investments necessary for the development of our company. Thanks to the available funding, we see an opportunity for improvement, establishment of new cooperation and offering customers a quicker service."

SIA Ventspils ventilatoru rūpnīca was established on the basis of a fan factory with a 30-year long history. The company started operations in 2006 as a manufacturer of metal structures and industrial fans. It currently manufactures all types of industrial fans and different metal parts, metal structures. Products of the company are widely used in agricultural, chemical, textile, woodworking, metalworking and other industries and sold are both in Latvia and exported to EU countries, etc.

Luminor is the third-largest provider of financial services in the Baltics, with some 900 000 clients, 2500 employees, and a market share of 15.6% in deposits and 17.6% in lending as at the end of June 2020. Luminor has total shareholders' equity of 1.6 bn EUR and it is capitalised with a CET1 ratio of 22.0%.