Company briefs - 2008-10-01

  • 2008-10-01
Estonian mobile operator Elisa is planning to invest hundreds of millions of kroons into the development of a 3.5G mobile internet network in the next three years. CEO Sami Seppanen says that the investment will however not exceed one billion kroons (63.9 million euros). Unlike other operators, Elsia is going to expand access to 3.5G mobile internet, which is many times faster than its predecessors due to a sense network of substations, said board member Andrus Hiiepuu.  A denser network means high-quality indoor reception above all else, which creates the precondition for fast mobile internet, said Seppanen. "According to Elisa's previous statistics, nearly three quarters of calls are made indoors. Practice shows that the same trend continues with mobile internet," he said.

With further network expansion Elisa plans to cover the whole of Estonia with mobile internet. Substations already put up this year will give access to an estimated 550,000 Estonians.

Daugavpils Lokomotivju Remonta Rupnica (DLRR), a train engine repair company based in the eastern Latvian city of Daugavpils, is announced a turnover of 16 million lats (22.7 million euros) for this financial year 2008.

The company made the announced the figure, which represents a two percent rise on last year's yield, in a report to the Riga Stock Exchange.

"The results of the first half of this year improved in comparison with the same period last year. The rise in turnover was achieved thanks to both increased amount of work and prices. We do not expect the second half of the year to be as successful as the first half due to increases prices for raw materials and energy," a manager of DLRR said.

The train repair company's representatives' note that 70 of this year's 140 orders were received from the Russian Railway company. DLRR is planning to increase the sale of train parts to Russia and to expand into the EU market.

DLRR reported 7.9 million lats (11.2 million euros) in net turnover in the first six months of 2008, up 19 percent year-on-year, and a profit of 802,500 lats as it recovered from last year's loss.