The money will enable Dambis to supply world telecommunications
companies with state-of-the-art equipment.
The company has signed a long-term cooperation agreement, effective
until 2004, to develop, produce and supply high-technology products
to the telecommunications sector. Without state support the project's
implementation would be delayed as the company's own funds are no
sufficient to carry out the project in full, director general Uldis
Benikis said.
By investing the state's support into development, this year Dambis
may achieve a turnover of 8 million lats, significant growth if
compared with last year, Benikis said. In 2000 Dambis posted a
turnover of 6.2 million lats, in 1999 it was 3.5 million lats and in
1998 only 1.2 million lats.
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