|Estonia Business News: Archive 2003-
Tuesday, 25th of September, 2007
Change in owners turned Starman's stock to rise
Though Dutch investment company that is buying major involvement in Starman made good purchase offer to all shareholders, new owners do not intend to take Starman away from stock exchange. Dutch investment company Xalto said that after company has formed purchase of Starman, it will make takeover offer to all shareholders, promising EUR 5.75 per stocks; Starman's stock rose 15% on stock exchange after that news.
Big pillow manufacturers grow strongly
Estonian manufacturers of pillows and blankets are growing production and turnover. In October Estonian fourth biggest manufacturer Delux Domotex will open new production hall that would add 400 sqm of production floors. "Turnover has grown 30% this year," noted company's owner Göran Sjöholm. When last year company's 8-months' turnover was EEK 73, then this year this number is EEK 95 million and profit EEK 10.5 million.
Wednesday, 26th of September, 2007
Estonia showed way
Estonian policy of even and low taxes has been followed in whole former eastern bloc. It started in 1994, when Estonian PM Mart Laar decided to establish proportional tax system, after which Estonian economy started growing quickly. Estonia's success urged other countries of the eastern
bloc to take similar steps. CNN ads that even and low tax system has attracted many foreign investments to countries, which has even more quickened economic growth.
Thursday, 27th of September, 2007
Profitable oil production pushes development plans
AS Viru Keemia Group is flagship of Estonian chemistry industry. Information manager Õnne Pilver as well as board president of the company Janek Parkman hope that in a few years company is able to tear down old production buildings and change the appearance of factory territory so that it would also be nice to look at. VKG has nine subsidiary companies and it exports 70% of produced oil shale. In a year VKG was able to grow consolidated sale income by EEK 0.5 billion - in 2006 VKG's turnover reached EEK 1.5 billion, profit was EEK 300 million.
Metallurgy factory sends battery lead to reproduction
AS Ecometal, which handles lead batteries, has come from EEK 6 million loss in 2003 to EEK 31.6 million profit. "In a year we can re-produce 20,000 tons of old lead batteries," says company's board president Tõnis Kaasik.
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