Riga Stock Exchange                                                                 08.02.2005



JSC „VEF Radiotehnika RRR” expects to double the sales owing to the EU funds



JSC „VEF Radiotehnika RRR” expects to double the sales owing to the EU funds, allowing the 

company to modernize the production facilities, thus improving its competitive ability. The 

company has applied for the EU funds via the Latvian Development and Investment Agency. The 

modernization of printed circuit boards production unit will allow doubling the company sales. 

In 2004 the company focused on developing high quality acoustic system business, in order to 

become competitive with the European producers.

Over 40% of the company sales go to the EU, 20% to the Baltic markets, and 40%to the Russian 

and CIS markets. The company closed the previous year with a profit.