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Mergers - Acquisitions - Takeovers
London. (euro adhoc) - Baltic Finance PLC demonstrates its strategic orientation
and acquires the Latvian Hetera Ltd. At the same time, the company obtains the
licenses required for further investments in dolomite and gravel mining.
Due to the upcoming repair of approximately 60 percent of highways in Latvia
from the EU Cohesion Fund and the ERDF, amounting to a total volume of
3,823,208,862 EUR, increase in local demand for dolomite and gravel is to be
expected. This results in good prospects for the sales and profit development of
Hetera Ltd. Baltic Finance PLC has seized this opportunity and bought the
Latvian company.
In accordance with the general strategic orientation, the takeover is only a
first step, and further investments in Latvian road construction are expected to
follow.
As a short-term measure, there are plans to take over Remex LV, a company
specialising in the distribution of precious stones, semi-precious stones and
synthetic gems and jewels.
In the medium term, further acquisitions of related companies as well as
investments in the direct extraction of raw materials are to be pursued. These
acquisitions refer both to the integration of existing distribution networks and
to the expansion of the entire dolomite mining on site, for example through
purchases of stone, dolomite and other mineral quarries.
By means of this pooling of know-how, the management hopes to accomplish synergy
effects that stimulate the development of a broader product portfolio as well as
innovation in the production and marketing of raw materials.
The projected turnover of Baltic Finance PLC for 2011 is initially about 3
million EUR and is expected to continuously increase in the following years.
Further inquiry note:
Janis Ruttuls
Phone: +37129466767
E-Mail: jruttuls@inbox.lv
end of announcement euro adhoc
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company: Baltic Finance Plc
c/o UK COMPANY SECRETARIES LTD, 11 CHURCH ROAD
D-KT23 3PB GREAT BOOKHAM SURREY
phone: +37129466767
FAX: +37129466767
mail: jruttuls@inbox.lv
WWW: http://www.baltic-finance.co.uk
sector: Financial & Business Services
ISIN: GB00B642LK05
indexes:
stockmarkets: Open Market: Frankfurt
language: English