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Saturday, 06.02.2016, 15:24
Joint-stock metallurgy company KVV Liepajas Metalurgs has until March 1, 2016 to come up with a restructuring plan, State Treasury head Kaspars Abolins told members of the press after yesterday’s government meeting, informs LETA.
Keyword tags: Financial Services, Latvia, Legislation, Markets and Companies, Metals Market
Some 50 employees of the joint-stock metallurgical company KVV Liepajas Metalurgs staged a picket outside the government house in Riga on Tuesday, demanding that the government step in and prevent the company's closure, informs LETA.
The joint-stock metallurgical company KVV Liepajas metalurgs temporarily halted operations on Thursday, January 28, the company's board member Igors Talanovs told LETA.
In looking for opportunities to increase the share of products with higher added value, the joint-stock metallurgical company Liepajas metalurgs is considering cooperating with the German company Siemens, as KVV Liepajas metalurgs board member Igor Talanov told LETA.
As KVV Liepajas Metalurgs metallurgical company had missed a payment of EUR 2.7 million that was due to the Latvian state in late 2015, the Treasury has started drawing on the collateral, LNT commercial television reported on Thursday (January 28th) evening, informs LETA.
Latvenergo power utility will not stop supplying electric power to KVV Liepajas Metalurgs metallurgical company because of its outstanding electricity bills, at least for now, Latvenergo spokesman Andris Siksnis told LETA.
KVV Liepajas Metalurgs metallurgical company has rejected as untrue the critical remarks by Latvian Economics Minister Dana Reizniece-Ozola (Greens/Farmers), who said that the business approach of the company's owners was styled after Soviet rather than EU traditions, reports LETA.