Company briefs - 2004-11-25

  • 2004-11-25
Alna, a leading IT company in Lithuania, has signed an exclusive partnership agreement with India's Newgen Software Technologies, a global leader in business management solutions. Newgen products integrate all information used by a company - electronic documents, files, photocopied documents, e-mails or Web site information -- and enable companies to manage complex business processes. With the deal, Alna is now poised to compete for orders from large Baltic companies by offering international document, information and business process management systems at bottom-rate prices.

Estonia's Olympic Casino Group Baltija, the leader in the Lithuanian market, has said it was preparing to open its first casino in Kaunas. Investments in the casino, which will be located in the Takioji Neris Hotel, have required some 5.5 million litas (1.59 million euros). The State Gambling Supervisory Commission provided authorization on Nov. 19 for the gambling hall. Olympic Casino Group Baltija has already invested some 50 million litas in Lithuania, and its four casinos (all located in Vilnius) generated 84 million litas in revenues during the first nine months of 2004.

The Galvex Estonia galvanization facility at Muuga Port made a net profit of 280.5 million kroons (17.9 million euros) last year on an operating profit of nearly 154 million kroons. Last year's sales totaled 378 million kroons. Galvex Estonia, one of the single largest foreign investment projects in Estonia, has so far produced 218,438 tons of galvanized steel plate this year.

The Finnish travel operator KohdematkatKaleva has purchased the Lithuanian bureau of Carlson Wagonlit Travel as part of its expansion strategy. The two sides announced that Carlson Wagonlit Travel's activities would remain unchanged in Lithuanian and that the bureau would not be renamed until early 2005. KohdematkatKaleva, which is owned by the Juuranto Group, is attempting to become the leading supplier of travel services throughout the Baltic region, officials said. In March, it acquired 100 percent in Hermann Travel, Estonia's second-largest travel operator.