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Wednesday, 12.03.2014, 17:56
Latvian steel construction manufacturer East Metal Ltd. achieved EUR 42.43 million in turnover in 2013, which was by 22% more than in 2012, when the company achieved EUR 34.93 million in turnover, according to information from Firmas.lv, cites LETA/Nozare.lv.
Keyword tags: EU – Baltic States, Good for Business, Latvia, Markets and Companies, Metals Market
Latest data compiled by the Central Statistical Bureau of Latvia show that, compared to January 2013, industrial production in January of this year (according to calendar adjusted data at constant prices) has dropped by 11%.
With halt in production at the metallurgical company Liepajas metalurgs, manufacturing volumes in the city of Liepaja (southwestern Latvia) have reduced by approximately 50%, however, manufacturing volumes in the city still remain higher than any other city in Latvia outside Riga, LETA was informed by Liepaja City Council public relations representative Andrejs Rjabcevs.
The stoppage of production at Liepaja's largest manufacturing company – joint-stock Liepajas metalurgs, has left less of an impact on the city as previously feared, SEB banka President Ainars Ozols said in an interview on ''Rietumu Radio'' today, informs LETA.
Two of the creditors of the insolvent Latvian metallurgical company Liepajas metalurgs – joint-stock Citadele banka and joint-stock SEB banka, have yet to give the green light for the company's sales plan, the company's insolvency administrator Haralds Velmers told the business information portal Nozare.lv.
Extending the deadline for selling the troubled joint-stock metallurgical company Liepajas metalurgs is not in the city's interest, as Liepaja Mayor Uldis Sesks (Liepaja Party) said in an interview with "Rietumu Radio" this morning, cites LETA.
During a meeting of creditors of the troubled metallurgical company Liepajas metalurgs on February 21st, 2014, the participants of the meeting agreed to extend the deadline to sell the company's property. The new deadline is set at August 31, 2014, informs LETA/Nozare.lv.
It is a common knowledge that foreign investments allow to attract modern technologies and create new jobs contributing to the growth of national economy. Unfortunately, no country is insured against joining the market of unfair investors who improperly affect the economic cooperation among states.
Out of the three secured creditors of the troubled metallurgical company Liepajas metalurgs, only the state, represented by the State Treasury, has agreed to the company's sales strategy, Liepajas metalurgs insolvency administrator Haralds Velmers informed Nozare.lv, cites LETA.
The government has supported the strategy for sale of the troubled metallurgical company Liepajas metalurgs, which was previously drawn up by the company's insolvency administrator, Haralds Velmers, Finance Minister Andris Vilks (Unity) and Velmers informed the press today after the Cabinet meeting, cites LETA/Nozare.lv.
2013 was a year of steady growth for the national economy of Latvia as the gross domestic product increased by approximately 4.1% from 2012, which is almost as much as the 4.2% that the Finance Ministry had predicted at the start of last year, informs LETA/Nozare.lv.
Latest data compiled by the Central Statistical Bureau of Latvia show that, in 2013 manufacturing turnover (1), according to calendar adjusted data (at current prices), compared to 2012, grew by 1.9%.
Liepaja Court has accepted the steel trading company Stemcor UK Limited's (Stemcor) complaint over Liepajas metalurgs insolvency administrator Haralds Velmers' decision not to recognize Stemcor's LVL 15,155,958 (EUR 21.56 million) claim against Liepajas metalurgs, as Inta Kurpa, aide to the court's chairman, informed LETA.
Today, the Supreme Court's Chamber of Civil Cases ruled in favor of Liepajas metalurgs metallurgical company shareholder Kirovs Lipmans in his dispute with another Liepajas metalurgs shareholder Sergejs Zaharjins over 11.5% of the company's shares, cites LETA.
Latest data compiled by the Central Statistical Bureau of Latvia show that, compared to 2012, industrial production in 2013 (according to calendar adjusted data at constant prices) has dropped by 0.4%.