International Internet Magazine. Baltic States news & analytics
Wednesday, 23.04.2014, 19:56
Out of the 1,336 former employees of Liepajas metalurgs who have registered as unemployed at the State Employment Agency, only 103 have managed to find a new job, LETA found out from the State Employment Agency.
Keyword tags: Employment, Latvia, Legislation, Markets and Companies, Metals Market
In February of this year, compared to January, industrial production volume (according to seasonally adjusted data at constant prices) has increased by 0.9%, of which in manufacturing – by 3.3% and in mining and quarrying – by 7.9%, but in electricity and gas supply there was drop of 1.8%.
At the moment, over 80 sales offers for the insolvent Latvian metallurgical company Liepajas metalurgs have been sent out, the company's insolvency administrator Haralds Velmers informed the business information portal Nozare.lv, cites LETA.
In an interview with ''Rietumu Radio'' today, Liepaja Mayor Uldis Sesks (Liepaja Party) said that the crisis between the European Union and Russia could have a negative impact on the sale of insolvent metallurgical company Liepajas metalurgs, as the process to find an investor is not very optimistic at the moment, reports LETA.
Consultancy firm Prudentia has been selected to organize the sale of the insolvent Latvian metallurgical company Liepajas metalurgs, as insolvency administrator Haralds Velmers told the business information portal Nozare.lv, cites LETA.
The other creditors of the insolvent joint-stock metallurgical company Liepajas metalurgs – joint-stock Citadela banka and joint-stock SEB banka, have given the green-light for the planned sale of the company, as insolvency administrator Haralds Velmers told the business information portal Nozare.lv, cites LETA.
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.
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.