Company briefs - 2012-02-09

  • 2012-02-08

The preliminary turnover result for the Maxima Latvija chain last year was 399 million lats (570 million euros), a 7 percent increase on 2010, reports “The increase in turnover was largely ensured by the expansion of the retail network. The cause thereof, on the other hand, was the stabilization of the Latvian economy, which prompted the company to invest a total of 19.6 million lats in five cities, and create 375 new jobs. That means that several positive trends were taking place last year, both in the country and at the company,” said Maxima Latvija head Gintaras Jasinskas. Maxima’s network in Latvia includes 136 stores. The total turnover of Maxima Grupe in Latvia, Lithuania, Estonia and Bulgaria in 2011 increased 7 percent from 2010, reaching 2.3 billion euros.

Technopolis Ulemiste will begin expanding its Tallinn airport campus, the company says, reports LETA. The expansion is connected to a Dec. 15, 2011 agreement with the Estonian Tax and Customs Board whereby it leases approximately 11,650 square meters for ten years from the Technopolis Ulemiste airport campus. The total investment in the Lootsa 8 A, B and C buildings on the Technopolis Ulemiste airport campus is estimated to be around 30 million euros, of which 7.5 million euros has been invested in the first phase. The rentable space totals approximately 22,000 square meters and the gross area approximately 29,600 square meters. Fifty percent of the facilities have been pre-let. The campus is scheduled for completion in October 2013.

Last year, Latvia’s wood exports amounted to 1.1 billion lats (1.5 billion euros), the highest figure in the past 20 years, according to the Agriculture Ministry’s estimates, reports In 2010, wood exports totaled 1.0 billion lats; in 2007 they were also 1.0 billion lats. The Agriculture Ministry’s Forest Department Director Arvids Ozols explains that wood exports grew due to the state’s timely decision to ensure the wood industry with timber supplies, allowing it to maintain production and jobs and edge out the competition. This decision paid off in 2011, when wood production prices grew, thus the record-high figure is “logical.”