Company briefs - 2006-01-11

  • 2006-01-11
New software of Eesti Post (Estonian Post) developed a bug on the first workday of the New Year, leaving mailmen without lists of newspaper subscribers and forcing them to deliver papers from memory. The problem was most serious on Jan. 3, when the postal company's server crashed under the load of requests for information. Both postal agencies and newspapers have been inundated with calls from subscribers who had paid for the subscription but did not receive the paper. Eesti Post refused to reveal the potential size of its losses due to the software glitch. The company worked on introducing the new software for nearly five years.

Vilniaus Vingis, one of the EU's leading manufacturers of electronic components for televisions, reported 82.4 million litas (23.8 million euro) in sales in 2005, a plunge of 32.9 percent year-on-year. Several customers suspended their businesses last year, while the sales to Ekranas plummeted 37.4 percent. For 2006, the company is projecting sales of 67 million litas, a decline of 18.7 percent.

Latvia's Man-Tess stevedore company announced plans to start building a grain terminal in the spring. Owner Julijs Krumins said the Riga Port project would be finished by mid-January and construction would start in the spring. He said that Man-Tess, the fifth-largest company working at the port, would build the grain terminal in partnership with Semena Povolzja, a Russian company. Total investments will amount to about 25 million euros. The grain terminal would have a handling capacity of 100,000 tons of grain, including grain storage.