Glaskek, a pan-Baltic window manufacturer, has said it is prepared to open the region's largest wooden window plant. The 100 million kroon (6.4 million euro) plant will make up to 250 wooden windows a day, nearly five times more than the existing production capacity. "It's a largely export-oriented production unit that supports Glaskek's overall operating strategy," supervisory board Vladimir Obershneider said. The company's consolidated sales totaled 922 million kroons in 2006. The group employs over 1,000 people.
VRP/Hill&Knowlton, a leading PR agency in Lithuania, acquired a majority interest in Baltic Media Partners. VRP/Hill&Knowlton aims to integrate further four or five communications services companies in a couple of years and become the largest communications services group in the Baltics. "We have acquired a holding in Baltic Media Partners as we have promised future investments. We have obliged to invest into services, labor force, training and installation of specialized software. Moreover, we will search for a franchise of an international PR network for BMP," board member Kristinas Taukacikas was quoted as saying. VRP/Hill&Knowlton is projecting its annual sales to reach 6.5 million litas in 2007, while BMP is expected to post some 300,000 litas.
Gimenes Aptiekas, one of Latvia's pharmacy chains, said it planned to acquire 10 more drug stores next year. Director Ilgvars Kipens told the business weekly Lietiska Diena that talks with five stores were underway and that if plans were successful the chain would comprise 60 stores by the end of next year. Turnover might also increase 20 percent, according to forecasts. Kipens said that inflation would force consumers to buy cheaper medicine and food supplements from Russia, Eastern Europe or even India and give up more expensive equivalents.