Kaunas-based Veju Spektras won a tender to build wind-power generators between Palanga and Sventoji in western Lithuania. According to terms of the tender announced by Lietuvos Energija (Lithuanian Energy), the state-run power utility, with a combined capacity of 30 MW, the wind generators should be merged with the power transmission line connecting Klaipeda, Palanga and Sventoji. The company is in negotiations over funding with Danish and German banks.
The owners of Riga Hotel said they were prepared to sell it for 13.8 million lats (20.7 million euros), according to documents filed with the Riga City Council, whose own finance committee chose not to exercise its pre-emptive right to buy the hotel on June 2. Unconfirmed reports maintain that one possible buyer is Mira-G, which is owned by Venjamins Gurevics, the Dienas Bizness daily wrote. The hotel's current owner, Lateko Banka, which took over the hotel in late 2002, has refused to comment on the sale.
Elion, the Estonian telephone services provider, said it would change the terms of its call products as of July 1, including determining clients' responsibility for unwanted dial-up calls. An Elion official said that due to their carelessness, customers had to pay for the calls, and now the company wants to define a client's exact responsibility. "Today we are in a situation where several Internet users have discovered from time to time Internet calls made to Cook Islands, EMSAT satellite systems, Tuvalu or other similar destinations on their telephone bill," the official said.
Lido, Latvia's catering company, posted a turnover of 14.9 million lats (22.4 million euros) last year, up 12 percent year-on-year, while profit grew 25 percent to 449,700 lats. Vice President Vilnis Cirulis attributed the growth to several factors, including a new amusement park in Riga and international projects, such as the one ongoing in Belarus. "We sell our knowledge in organizing companies in line with the Lido pattern," said Cirulis. This year, in addition to completing the Belarus project, Lido expects to launch at least one more development outside Latvia and an innovative project in the country.
The Estonian dairy company E-Piim said it was planning to build a cheese-packing facility at its Poltsamaa-based dairy at the cost of nearly 30 million kroons (1.9 million euros). The facility, which should be completed by the end of August, will be able to package 15 tons of cheese daily.
Eesti Raudtee's (Estonian Railway's) supervisory council on June 3 elected U.S. citizen Christopher Aadnesen as board chairman and managing director. Board Chairman Edward Burkhardt said Aadnesen's long experience in the management of a privatized railway in Mexico was a decisive element in the appointment. "Eesti Raudtee has passed thorough restructuring in its development, and we now need a leader able to guide the company on the established course," Burkhardt said. Aadnesen, 55, will take up the post in July. He has been in the railway business for 29 years. Acting general director Riivo Sinijarv will continue as deputy managing director.
Aidas Mackevicius, former chief financial officer of Palink, the operator of Lithuania's second-largest retail chain IKI, has been appointed as chief executive. Mackevicius, 37, who has been working for IKI since 1999, said, "I do not expect any essential changes, and the main objective to be among the leaders in Lithuania and to maintain and strengthen second place in the market, will remain unchanged." Palink operates 58 IKI shops, 15 IKIUKAS convenience stores and 51 Pigiau Grybo discount shops.
