Snaige
AB „Snaige“ announces the sale of real estate of its subsidiary company in
Snaige AB 14.08.2013 15:49 --------------------------------------------------------------------------- Alytus, Lithuania, 2013-08-14 15:49 CEST (GLOBE NEWSWIRE) -- AB 'Snaige' has signed a preliminary agreement regarding subsidiary company OOO 'Techprominvest's' property sale. OOO 'Techprominvest' - the company's refrigerator plant in Kaliningrad, which used to manufacture refrigerators for the Russian market. Its activities were suspended in 2009., when after the ruble devaluation the plant became unprofitable. According to AB 'Snaige' CEO Gediminas Äeika, the potential selling of the OOO 'Techprominvest' real estate is good news for the company. Having not operating the plant for several years means unnecessary expenses for its maintenance and this damages the consolidated financial result,' - said G. Äeika. 'After the company will sell this real estate, the company will use its recourses in more effective way.' Managing Director Gediminas Äeika +370 315 56206 News Source: NASDAQ OMX 14.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Snaige AB Lithuania Phone: Fax: E-mail: Internet: ISIN: LT0000109274 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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