Company briefs - 2007-06-20

Snaige, the Baltics' only refrigerator producer, reportedly received several bids to buy a controlling interest, but shareholders are not satisfied with the prices offered. Management and shareholders of the Lithuania-based company refused to comment, the Verslo Zinios business daily reported. "We are not making any comments since the process has not been finalized as yet," CEO Mindaugas Sestokas said.

To facilitate the development of transit traffic and reduce competition, the Baltic states should agree among themselves which cargo would be handled at each port, Vladas Ambroziavicius, head of marketing at the Lietuvos Gelezinkeliai railway company, said at a conference last week. Latvian Transport Minister Ainars Slesers said that with the increase of cargo turnover at Latvian ports it should be considered what cargos each port wishes to reload. He said that Latvian ports cargo turnover is mainly based on coal, but reorienting toward products with higher added value, like containers, oil and metals, would be necessary. The minister predicted that cargo turnover in Latvia's ports could be increased from the present 60 million tons per year to 80 - 100 million tons.