Snaige
AB SNAIGE has sold its Russian subsidiary
Snaige AB 18.06.2013 15:47 --------------------------------------------------------------------------- Alytus, Lithuania, 2013-06-18 15:47 CEST (GLOBE NEWSWIRE) -- AB Snaigė has sold OOO Liga Servis its subsidiary in Russia. The main purpose of the business was to take care of the company's sales and marketing in Russia. According to the company's CEO Gediminas Čeika, to have subsidiaries that are engaged in sales and marketing activities in Russia has become inappropriate after the company started cooperation with POLAIR group of companies. POLAIR is the largest and most well known producer and seller of refrigeration equipment in Russia, with its commercial channels and contacts, which AB 'Snaigė' are starting to use. '- Said G. Čeika. 'Results of this cooperation have exceeded all expectations - in first quarter of this year sales to Russia increased by three times. As a result there is no need to duplicate work and to waste money with subsidiaries in Russia. Now the company's group structure consists of Ukrainian OOO Snaige Ukaine, Lithuanian UAB Almecha and Russia OOO Techprominvest - the only subsidiary company in the country which is the closed factory in Kaliningrad, which the company also has the intention to sell. The final subsidiary in Russia OOO 'Moroz Trade' is now removed from the Russian Register of Legal Entities. Turnover at AB 'Snaigė' reached an all time high of LTL 34,4 MM in the first quarter (unaudited consolidated data), which is an increase of 57% vs. last year. At the first quarter the company earned LTL 1.3 MM consolidated unaudited EBITDA i.e. 4 times more than at the same period last year. AB 'SnaigÄ' chief executive officer Gediminas Äeika +370 315 56206 News Source: NASDAQ OMX 18.06.2013 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 ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden