Liepājas Metalurgs                                                 22.06.2005



JSC “Liepājas Metalurgs” invests its profits in development for the next years



The production equipment of Joint-stock company "Liepājas metalurgs" are

outworn and outdated.

On last year a company started the construction of new steel continuous casting

equipment. That is the reason of shareholder’s assembly of JSC "Liepājas

metalurgs" to spent all profit in to development of company.

On Jun 1, 2005 in JSC "Liepājas metalurgs" took place the presentation of

steel-melting shop modernization project. There were discussions about

steel-melting equipment, it’s liaison with infrastructure, discussions about

supply of lime and technological gases for the steel-melting shop. The expenses

of this development project will be very big and prognoses about divvy pay-out

would be after 6-7 years, when the production union of JSC "Liepājas metalurgs"

will reach the level of EU and the expenses (long-term liabilities with credit

institutions) will be repaid.

 

JSC "Liepājas metalurgs"

Chief Economist

B.Imbovica