Ministry of Foreign Affairs has released an official interpretation of

the  statement by the USA President of March 5 regarding an increase of

import  duties  on  steel  products  for  a  number  of countries. MoFA

maintains that the resolution will by no means affect the operations of

JSC  "Liepājas  metalurgs", which is the sole steel producer in Latvia.

MoFA  experts  have  arrived  at a conclusion that the increased import

tariffs  to  steel  products do not apply to the countries to which the

USA applies the general reference system, including Latvia and other EU

pre-accession countries.

"Liepājas  metalurgs" is satisfied about the provided interpretation of

the  USA  President's  statement,  and  expects  to  make  use  of  the

opportunity  in  the  nearest  future.  In case of receiving profitable

orders "Liepājas metalurgs" will resume trading with the USA.

JSC "Liepājas metalurgs" has  acquired real estate at the address 5/7/9

O.Kalpaka  Street, 9 and 11/13  Upmales Street, Liepāja, formerly owned

by  SIA  "Trals", currently in the dissolution process. The real estate

was  sold at three auctions. On February 27 "Liepājas metalurgs" signed

a purchase agreement. The value of the deal is LVL 130,000.