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Company briefs - 2006-12-20

  • 2006-12-20
One of VP Market's Maxima supermarkets in Vilnius began working 24 hours as a way to soak up residual demand. "Lithuania currently lacks stores with a diversified merchandise mix that would work all night," Viktorija Jakubauskaite, VP Market spokeswoman, told BNS. "Over a half of residents polled in the whole country and the capital in particular admitted they would favor a round-the-clock supermarket strongly." VP Market currently has no plans to extend the working hours of its other stores. Other major Lithuania's retail chains, including Iki, Rimi and Norfa, said they would not follow suit in the near future.

The decision by Eesti Raudtee's (Estonian Railway's) supervisory board to lay off two executives will grant them severance to the tune of 2.5 million kroons (160,000 euros). The board decided to recall deputy managing director Riivo Sinijarv and development director Raivo Vare on Jan. 9, the day the state will presumably repurchase the majority holding of Baltic Rail Services (BRS), which owns 66 percent of Estonian Railway. Rain Rosimannus, a state representative, said that the severence surprised him when it arrived by e-mail. "All the representatives of the state voted against it. I didn't understand why it was necessary to make such a move before the transfer of shares," he said. Five BRS representatives voted in favor, and three state representatives against, the decision.

The Baltic states' three leading utilities - Latvenergo, Lietuvos Energia and Eesti Energia 's said they planned to meet on Jan. 9 in Poland to hold talks with Polskie Sieci Elektroenergetyczne and hear the latter's proposals. Tomasz Wilczak, Polish Economy Ministry's deputy state secretary, voiced hope for cooperation between the Baltic and Polish energy companies in the new nuclear power station project. During the meeting, the Polish government representatives introduced the Baltic companies with Polish consultations on the research of the nuclear project.