Dzintars cosmetics company makes first product deliveries to Egypt, Iraq this year

RIGA - Latvian cosmetics producer Dzintars has made its first product deliveries to Egypt and Iraq this year, the company’s representative Linda Belasa told BNS.

She indicated that the certification of Dzintars products is still ongoing in Egypt, but has already been completed in Iraq.

In November 2016, customs clearance was completed for the first delivery of Dzintars products in China.

“The first consignment in China was cleared in November 2016. The next delivery of products ordered in China is being planned for the second quarter of this year, as the amount and range of products are being still being coordinated,” the Dzintars representative said.

The cosmetics company is also continuing work on a new line of products with anti-smog properties, targeting consumers in China who suffer from air pollution.

As reported, the Riga City Zemgale District Court on January 18 approved the measures Latvia's Dzintars cosmetics company is planning to take as part of its legal protection process.

The Riga City Zemgale District Court on October 17, 2016, launched a legal protection proceeding for Dzintars cosmetics company.

The company explained it had run into financial trouble but wanted to stay in business, and two successive economic crises - in 2008 and in 2014 - had caused a decline in its traditional markets, leading to shrinking sales, shortage of working capital and debts.

Dzintars posted EUR 5.911 million in sales for 2015, down 7 percent year-on-year, while the company's loss rose 76 percent to EUR 2.633 million.

Dzintars is a manufacturer of perfumery and biocosmetics, making more than 1,000 various products. The company was registered in 1991 and has a share capital of EUR 2.817 million.