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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 15:59

Liepajas metalurgs owners hope to resume production by end 2014

BC, Riga, 13.11.2014.Print version
The process of takeover of the insolvent Liepajas metalurgs is still in progress, however, the new owners at KVV Group hope to resume Liepajas metalurgs operations by the end of the year, co-owner of KVV Group Yevgeny Kazmin said at a press conference, reports LETA.

"The deal is very complicated, and cannot be cleared within one day, however, the takeover process has proceeded without any complications so far," Kazmin stressed. "As soon as all the necessary documents are prepared, we will be ready to begin work to receive the first tons of products within three weeks."

 

The new Liepajas metalurgs owners also met with Latvian President Andris Berzins in Liepaja today. Berzins expressed support and wished the company to find a way back to its former export markets, Kazmin said.

 

"The metallurgical market is very competitive, and it will be hard for the company to return to its former markets, but the top state and municipal officials are very interested in this, and we can feel their support," Kazmin said, adding that KVV Group is experienced enough in order to help Liepajas metalurgs expand into new markets.

 

The company's representative Igor Kovalenko said that after the plant resumes operations, Liepajas metalurgs will provide jobs for 1,200-1,400 people.

 

There are no indications that there could be problems with the staff, Kovalenko said. The new company owners also plan to interview specialists from Riga Technical University and a metallurgical institute in Donetsk.






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