CrossChem, Latvian producer of chemical products, reports that its turnover during the first six months of 2023 reached EUR 9.4 million, the company's equity grew by 22%, fixed assets grew by 14%, and total amount of assets reached EUR 14.6 million.
The global drop in raw material prices also impacted CrossChem, reducing the price of consumed raw materials. It has a positive effect on the level of liquidity and allows the company to finance economic activity and investments more efficiently. The concluded global supply agreements with service station networks provide significant advantages to the company, allowing it to streamline work and reduce production costs, channeling the savings towards the creation of a professional team.
“A significant aim of CrossChem this year is to strengthen and form the foundations on which the development for the next 5 to 10 years will be formed. That's why we focus on raising the professional level of our employees, developing infrastructure for the circulation of chemical products, expanding product portfolio, modernizing work processes as well as expanding sales markets,” says Ričards Andersons, Chairman of the Management Board of CrossChem.
SIA CrossChem is a 100% Latvian capital company, which is part of the CrossChem International group - a chain of worldwide chemical product producers and distributors. The basis of the business is the production of sustainable and environmentally friendly products, which, by combining global experience, allows to reduce costs and increase competitiveness. The company produces AdBlue®, AUS40®, liquid fertilizers and automotive products and in parallel provides a range of services related to these products.