Mitsui&Co purchases 80% Rigas universalais terminals shares

Mitsui&Co purchases 80% Rigas universalais terminals shares

BC, Riga, 23.04.2013.

http://www.baltic-course.com/eng/good_for_business/&doc=73798

Portek International Private, a subsidiary of the Japanese trading company Mitsui&Co, has bought 80% of Rigas universalais terminals shares, according to Firmas.lv information. Logistics expert Aldis Bulis lauds the transaction, reports LETA/Nozare.lv.

Rigas universalais terminals has kept the remaining 20% of shares.

Aldis Bulis comments: “If a foreign investor decides to invest in a port, it means that he sees opportunities and displays trust. Investments in ports mean further processes in the future, including positive changes brought about by an influx of additional cargo”.

Rigas universalais terminals board has been replaced. It is now headed by Takao Omori. Ricky Yong, Shigeki Kanamori and Valerijs Aleksandrovs have been appointed to the company's board.

Sergejs Rogols has left the company's board.

Rigas universalais terminals achieved LVL 7.99 million in net turnover in 2012, a 33% increase on 2011. The company's cargo volume reached 2.5 million tons. Rigas universalais terminals profit amounted to LVL 1.8 million in 2012, a two-fold increase on 2011.