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Saturday, 24.03.2018, 18:08
Russian billionaire Dmitry Gerasimenko, the owner of metallurgic plant Red October in Volgograd, might have acquired the rolling mill equipment of Latvia’s insolvent steel company KVV Liepajas Metalurgs, the evening news program of LNT commercial TV channel reported yesterday, informs LETA.
Keyword tags: Baltic States – CIS, Latvia, Legislation, Markets and Companies, Metals Market
A district court in the southwestern Latvian city of Liepaja today removed Guntars Koris as insolvency administrator of KVV Liepaja Metalurgs steel company, the court’s representative Velga Luka told LETA.
Vakaru Laivu Gamykla (Western Shipyard, or VLG), a Lithuanian shipbuilding and repairing group controlled by Estonia's BLRT Grupp, last year set up a subsidiary Vakaru Technologiniai Sprendimai (Western Technological Solutions) that will produce stainless steel and aluminum structures, informs LETA/BNS.
The assets of Latvia’s insolvent steel company KVV Liepajas Metalurgs will be sold at auctions, the company’s insolvency administrator Guntars Koris has decided, informs LETA.
It is still unclear at the moment whether the Liepajas Metalurgs deal will be signed with the investor, Prime Minister Maris Kucinskis (Greens/Farmers) told Latvian Television this morning, informs LETA.
Outokumpu, the global leader in stainless steel, headquartered in Helsinki, is expanding its multifunctional service center in Vilnius and will hire an additional 60 specialists here, informs LETA/BNS.
K-1 Liepajas Metalurgs Plant, the new stock company reportedly established to take over Latvia’s insolvent steel company KVV Liepajas Metalurgs, increased its share capital from EUR 35,000 to EUR 7.535 million this week, according to information available at Firmas.lv, cites LETA.