Company briefs - 2011-10-27

On Oct. 21, the European Union Council of Ministers for Agriculture and Fisheries agreed on Baltic Sea fishing quotas for 2012, which substantially reduces fishing quotas for Latvia and other countries bordering the Baltic Sea, reports LETA. According to the decision, there will be a 22 percent reduction in the total allowable catches (TAC) of sprats in the Baltic Sea in 2012. There will be a 21 percent TAC reduction of Baltic herring in the Gulf of Riga, and a 27 percent reduction in the central Baltic Sea. To recover salmon populations to sustainable levels, the council also made the decision to reduce the TAC of salmon in the Baltic Sea by 51 percent. The TAC of cod will be increased by 15 percent in the eastern Baltic, and by 13 percent in the western Baltic.

The Finland-based developer of an ‘environment for playing’ - Lappset - plans to establish a 2.5 million euro value metal parts plant in the Tanassilma technological park near Tallinn, reports news2biz. The CEO of Lappset, Juha Laakonen, said that Estonia is a good location for business facilities because of its proximity to Tallinn, and its rather low production costs. The plant’s construction has already been started, and it is expected to be finished in December. According to Laakkonen, the Estonian plant’s main purpose will be to produce metal components for playground sets, thus doing contract manufacturing for the assembly plants of the group. Lappset’s Estonian project is steered by Aarno Martin, who has already led several different projects in the company. Lappset was incorporated in 1970.