Observer Eesti Oü

WEEK 23rd 2004

Friday, 4th of June

Sale of ML Arvutid up 28 percent
ML Arvutid that assembles MicroLink computers sold 1,308 PC in Estonia in May that is 28 percent more than a year ago. The PC maker’s sales in May were EEK 14.8 million, which is 36 percent more than last year. In five months, the company has sold 7,119 computers, which is 38 percent more year-on-year.

Thursday, 3rd of June, 2004

Estonian pulp plant starts to break ground
The aspen pulp project that is being developed by Estonian Cell is getting ready to break ground near Kunda in Northern Estonia. The construction works of the EEK 2.6 billion plant will begin in the nearest days. This is the biggest investment in the history of Estonia.

Emor: Kalev has the highest reputation in Estonia
It appeared in the traditional reputation research by TNS Emor that Estonia’s companies with highest reputation among local residents are Kalev, Hansapank and EMT. Growth of reliability indicates to the stable development of local major companies and to their growing importance in the everyday life.

Wednesday, 2nd of June, 2004

Ernst & Young: Estonia has the characteristics of an attractive investment environment
A new survey of Ernst & Young of Europe shows that, among the world’s 11 investment regions, Central and Eastern Europe including Estonia are on the second place. According to the survey, investors are attracted to this region mainly because of good transport connections, infrastructure, potential productivity gains and quality of telecommunications.

Construction business up 28 percent year-on-year in Q1
The beginning of the year was successful for Estonian construction enterprises, reported statistical office. Compared to respective period last year, construction grew 28 percent in the Q1. The growth in construction was caused by the increase in the dwelling construction and the civil engineering

Arco Vara to plan a bond emission
In order to develop faster, real estate company Arco Vara that has demonstrated a forceful growth in past years is planning to involve additional capital, which will probably be a bond emission at the stock exchange. Arco Vara does not have enough resources for the powerful breakthrough at the Latvian market.

Tuesday, 1st of June, 2004

Swedes to transfer the manufacturing of Volvo car parts to Estonia
Lasertool AB, a Swedish manufacturer of spare parts for Scania and Volvo trucks and buses, plans to transfer half of its production to Estonia. The company plans to invest EEK 35 million in its plant in Estonia near Pärnu and triple production. “One reason is that our output is growing 20 percent a year. The other reason is pressure from customers on prices,” says production manager of Lasertool.
Eesti Päevaleht

Monday, 31st of May, 2004

Car vendors expect good service on the account of foreigners
Some Estonian car vendors are predicting a record year in 2004. In Estonia, most new foreign cars are significantly lower in price compared to Europe. This should allure new buyers.
Viktor Siilats, manager of Info Auto admits that in part of maintenance, the company is expecting a high growth of foreign clients. Big investments have been made to body and paint works.

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