Company briefs - 2007-07-11

  • 2007-07-11
Sweden's Ahlsell, one of Scandinavia's leading traders of installation products, has acquired 100 percent of Profs Latvija, a construction materials retailer. Commenting on the deal, Profs Latvija's chairman said, "It is an emotionally difficult decision but a strategically correct one, as it will ensure dynamic growth of Profs Latvija by expanding retail outlet and franchise chains, as well as the product range offered by the company." With approximately 200 retail stores in Scandinavia and five in Russia, Ahlsell manages an annual turnover of 2 billion euros.

Naftaremont, a Polish firm that provides repair services to oil companies, has increased its presence at Mazeikiu Nafta now that Poland's PKN Orlen controls the refinery. "We will need a very large labor force. A labor force that has experience, offers good terms and relatively low prices," the refinery's new boss, Marek Mroczkowski, said. Mazeikiu Nafta is scheduled to close for maintenance Sept. 15 - Oct. 31, and Mroczkowski said the refinery would need around 3,000 people for the repair work.

Estlink, the power cable linking Estonia to Finland, in the first half of the year delivered 850 gigawatt-hours of power to the Nordic countries and 13 gigawatt-hours to the Baltics. Jaanus Arukaevu, director of Eesti Energia's energy trading arm, said the cable, the only link between the Baltic and European energy markets, has proven its worth. "Even if prices on the Scandinavian market in the first half of this year have been lower than forecast, Estlink has in the first few months of operation made a significant contribution to Eesti Energia's economic results," Arukaevu was quoted as saying.