EU – Baltic States, Foodstuff, Good for Business, Industry, Latvia

He said that the year is not yet over, but it can be predicted that this year has been successful for the company. "The dynamic business environment requires change, the earlier production and organizational reforms ensure good grounds for that," he said, adding that the company has strengthened its position in the Latvian bread market.

The primary goal of Fazer Latvija is business development in the local market. Export could be retained at the previous level. "Our main task in relation to export products is to maintain unchangingly high quality," he said.

Locmelis also informed that the largest investments go into human resources and development of new products, as well as improvement of the working environment.

As reported, Fazer Latvija bakery achieved EUR 25.322 mln in turnover last year, which was 4.6% more when compared to the previous year, while the company’s profit rose several times to EUR 800,783.

Fazer Latvija, established in 2000, has a share capital of EUR 17,182,671. The company belongs to Finland's Fazer Bakeries Ltd., which is a company of Scandinavia's Fazer Group. Fazer specializes in making bread, sweets and cookies, as well as providing food services.