Cherry Media, which operates social shopping networks in all three Baltic States, doubled its gross turnover in the first half of this year to 12.5 million euros, reports Postimees Online. In the first six months of this year, it sold 12.4 million euros’ worth of vouchers, which is more than double than at the same time in 2011. “We forecast our 2012 gross turnover to be 26-29 million euros,” said Cherry Media group CEO Aldas Kirvaitis. “Based on existing data we dare to claim that Cherry Media has become the Baltic States’ largest e-commerce company,” he said. In six months, people bought nearly 1.2 million vouchers from Cherry Media group environments. The second quarter posted a record: 6.7 million euros’ worth of products and services were sold, 17 percent more than in the first quarter.
Refined petroleum product wholesaler Orlen Latvija (previously - Mazeiku nafta tirdzniecibas nams) achieved 369.6 million lats (528.5 million euros) in turnover in 2011, 80.7 percent more than in 2010, according to Firmas.lv information. The company’s profit grew 80.8 percent - from 1,042,386 lats in 2010 to 1,884,812 lats in 2011. According to the company’s management report, Orlen Latvija operates as Orlen Lietuva’s petroleum product distributor in Latvia. The company’s main tasks are: to organize the trade system, actively operate on the domestic market, supply and store petroleum products in terminals, work with clients, transport petroleum products to client terminals and lead client credit risks.
One of the biggest global logistics companies, Katoen Natie, will launch construction of a 30 million euros logistics center in the Muuga port in Estonia, reports Aripaev Online. The largest Estonian logistics center will have 65,000 square meters of space. Katoen Natie Eesti manager Mart Melles said that the new logistics center aims to be a bridge between East and West and mediate goods primarily to Russia, Belarus and Ukraine. For Tallinna Sadam (Port of Tallinn), the arrival of a logistics company with Katoen Naties’ scope is symbolic, since it enables expansion and makes much more diversified the assortment of goods serviced in Muuga port. Also, the project will create interest in other international logistics companies towards possibilities offered by the Muuga port, said Tallinna Sadam. The center will be built in three stages: first a 25,000 m2 warehouse building and railway and 300m2 administrative building; second, 40,000m2 of warehouse space and third, 44 containers for plastic granules handling.