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Company briefs - 2007-01-24

  • 2007-01-24
Rimi Baltic, the region's second largest retailer, saw its 2006 sales jump 20 percent to 3.3 billion litas (950 million euros). The largest surge was in Lithuania, where the Swedish-owned corporation boosted revenues 40 percent to 195 million euros. Latvia, however, continues to be the company's mainstay, as 2006 revenues there amounted to 435 million euros, up 24 percent year-on-year. "Solid sales enabled us to retain the leading positions in Estonia, where we hold 24 percent of the market, and in Latvia, where our market share is 22 percent," CEO Antonio Soares said. Rimi Baltic operates 204 stores in the Baltics.

Tallink, the Baltics' premier passenger ferry company, demanded an apology from Sweden's sailors' union for an alleged smear campaign. CEO Enn Pant said on Jan. 17 that if the union, SEKO, refused he would turn to the courts. Pant is claiming that the union spread spurious information about an incident on board one of Tallink's ships involving staff and company executives. SEKO is accusing Tallink executives of inappropriate behavior and subjecting a crew member to physical abuse.

Spilva, a Latvian fruit and vegetable processor, announced it would expand its plant in Latvia and build a new one in Russia. Chairwoman Lolita Bemhena was quoted as saying that expansion of the company's plant near Riga would cost 2 million euros and allow for both an output increase and expansion of product range. The company is currently looking for the best location for a new facility in Russia, which accounts for 8 percent of the company's sales. In 2005 Spilva, which is owned by Sweden's Procordia Food, posted 7.9 million lats (11.2 million euros) in sales.