|WEEK 52nd 2003
Tuesday, the 23rd of December, 2003
Producer prices grow
In November, producer prices in Latvian industry increased by 0.4 percent. Producer prices for export goods increased by 0.8 percent, whereas the producer prices for local market goods grew by 0.1 percent. The producer prices increased by 4.1 percent if compared to November last year. The producer prices for export goods grew by 5.7 percent, whereas the producer prices for local market goods increased by 2.9 percent within a year.
Furniture producers look for the market
Latvian producers of furniture with a support of the Latvian Development Agency (LDA) will participate in a trade mission in Great Britain in January. The entrepreneurs will meet potential co-operation partners and will attend the largest British international furniture exhibition The Furniture Show & Furnishing Accessories 2004 (Trade). LDA has sent a letter to the Japan External Trade Organization to receive a partial support for the Latvian entrepreneurs to participate in the Japanese most important furniture exhibition International Furniture Fair Tokyo 2004. Several Latvian furniture producers have already started negations with Japanese entrepreneurs about exporting their products.
Monday, the 22nd of December, 2003
Kesko Food and ICA AB merge
The companies Kesko Food Ltd and ICA AB have announced about their merger. Each of the companies will hold a 50 percent stake in the joint company. It is planned that the joint venture will start working in the summer 2004 and will acquire 25 percent of the retail market of the Baltic States in three years. ICA has the strongest positions in Latvia with 17 percent of the market, whereas Kesko Food in Estonia, with 23 percent market share. At the moment of the merger, the joint company will have 160 shops in the Baltic States. The total turnover of Kesko Food Ltd and ICA AB for 2003 stands at approximately EUR 550 million, and the market share is 15 percent.
(Biznes & Baltija)
Baltic Weekly MonitorA