Klaipeda Port Development Council has revised its investment program and decided to delay the development of quays used by Klaipeda Terminal Group (KTG) for several years, this despite the sentiment that "containers are among the types of cargo with the highest growth potential," says KTG CEO Vaidotas Sileika. KTG is the leading container terminal operator in the Baltics and could face difficulties in coping with its increasing volumes after the Council's decision. Sileika said that Finland's Containerships had recently canceled its contracts with the Latvian port at Liepaja and diverted all of its 'Latvian' traffic to KTG. "All European countries, seeing the potential of container traffic, are investing in terminals. Container traffic through Klaipeda may exceed the port's capacity unless [expansion] work is done in a timely manner," he said.
Latvian publishing house Zurnals Santa plans over the next two years to increase the number of magazines it publishes in Lithuania to five, says chief editor and co-owner Santa Anca. She said that at present they are publishing the magazine Shape in Lithuania and in the fall will launch an edition of Playboy. Anca sees the company's decision to enter the Lithuanian market as "a brave step." Zurnals Santa publishes 18 magazines. In 2007 the company generated about eight million lats (11.38 million euros) in sales with 1.5 million lats profit. This year the company forecasts sales to hit 9 million lats.
Estonian water company AS Tallinna Vesi reported net profit of 113.9 million kroons (7.28 million euros) for the first six months of 2008, 4.4 percent lower than the same period last year. Sales grew by 16.6 percent to 445.1 million kroons with operating profit up 3.3 percent, to 201.9 million kroons. The company invested 98.1 million kroons during the first six months of the year, with 76.9 million kroons going towards the extension and reconstruction of its networks. In addition to building new sewerage networks the company will this year rebuild a total of 16.1 kilometers of old water pipes, nearly 10 kilometers more than last year.
