Company briefs - 2004-03-04

  • 2004-03-04
Estonia's largest passenger ferry company Tallink Group purchased a new fast ferry, built in 1997, for its Tallinn-Helsinki line.

Kalev Jarvelill, CEO of Tallink Group, said that the role of ferries operating on this route would increase noticeably after May 1, the date of EU accession, after which ferries operating between these two capital cities will no longer be able to sell tax-free goods on board. Jarvelill added that the company purchased this new vessel to strengthen its position in fast ferry operations.

Latvenergo announced that it would begin offering Internet service in March to providers and then later to corporate clients. The company said it would present local and international voice calling options from the middle of the year. Karlis Mikelsons (photo), chairman of the board, told reporters that the company was concentrating on providing telecommunication services to large clients with affiliates or structural units in the Baltics.

Lithuania's largest dairy producer, Rokiskio Suris, announced that it ended 2003 with net earnings of 14.5 million litas (4.2 million euros). The company's production director, Dalius Trumpa, attributed the success to cost reduction and the decision to curb exports to the U.S. market. Rokiskio Suris has reported preliminary sales of 364 million litas for 2003 and projected that sales would exceed 400 million litas this year.

A leading fruits and vegetables processor in the Baltics, Spilva, will initiate a new pricing strategy to increase sales. The Latvian company will aim to streamline the cost of its tomato sauces in order to increase sales by 10 percent. Similar tactics will be applied to all five categories of its products by the end of the year.

The Estonian government has annulled the authorization issued to the Heta law firm to represent it in court, the Eesti Paevaleht daily reported. Heta lost the government, its top client, after its lawyer Daisy Tauk - girlfriend of none other than Prime Minister Juhan Parts - left to join another law firm, Teder & Partnerid. Minister of Economic Affairs Meelis Atonen said he saw nothing strange in the decision.

Elcoteq, a subcontractor of the Finnish electronics industry, plans to move production operations from its manufacturing plant in Espoo, Finland, to Tallinn. The cost-cutting transfer of work would result in the layoff of approximately 170 employees at the Espoo plant, the company's press release said. The Espoo plant currently manufactures digital optical cross-connection products and broadband access systems.

Sarma, a beauty care company that controls two cosmetic and perfumery chains in Lithuania, intends to open five new stores this year. The Sarma chain will invest 2 million litas (580,000 euros) in a new shop at the Europa shopping mall in Vilnius along with another 2.5 million litas in other developments. The new outlet will be the chain's 46th shop in Lithuania and 79th beauty store.