Company briefs - 2007-03-28

  • 2007-03-28
Toivo Annus, a former engineer at Skype, the Internet-based communication company, bought a stake in Crushpad Winery in California, the Eesti Ekspress reported. The winery, based in San Francisco, specializes in custom wines for the wealthy. Annus said the venture is for him an interesting and innovative project. In his words, the 2 million kroon (128,000 euro) investment is relatively modest both for him and for the winery.

Kreenholm, the Narva-based textile factory, threatened to cease production and lay off workers if Narva Vesi, the local water company, stops accepting the firm's waste water due to a debt dispute. Narva Vesi said that Kreenholm had a debt of more than 16 million kroons (1 million euros) for waste water treatment and that the utility would no longer accept waste if the company didn't start paying off the debt. But as Kreenholm lawyer Artur Lepik told the Baltic News Service, "If waste water is no longer accepted we shall be forced to close a large part of production and lay off workers."

Latvia's Aigars Kalvitis was scheduled to meet with the CEO of Gazprom, Aleksei Miller, to discuss the possibilities of an additional natural gas storage facility in the Baltic state. Latvia, which already has such a facility in Incukalns, would like to build a second one in Dobele, which would be capable of storing 10 - 15 billion cubic meters.