SIA Lango forms a company council

SIA Lango forms a company council

The information was prepared by the public relations specialist of SIALangoJolanta Gaudieša.

Since December 16 this year SIA Lango has expanded the strategic management structure of the company, and has formed a Council which includes the partners of corporate finances company Eventus Partners who will take part in the development of a long-term strategy of the company in order to achieve the goal to become the market leader in the Baltic countries.

Shareholders of SIA Lango, under the guidance of the president of the Board of Directors Andrejs Fraimanis, have taken the next step, and, putting into effect the long-term strategy, formed a Council that will operate with a goal to evolve the activities of the company in all markets of Baltic countries, in addition attracting investments for the expansion of the business.

The president of the Board of Directors of SIA LangoAndrejs Fraimanis motivates: „With determined actions, the company has conquered a stable position in the Latvian market in the section of ready-made and instant food products and started the export of products to Lithuania. This step – the formation of the Council – is directed towards an active long-term development of the company and the establishment of its positions in Baltic market. It will allow us to proceed purposefully and to achieve the set goals in Lithuania, as well as to carry out the next strategic step – enter Estonia. The results of Lango’s work this year confirm that the company is not only operating stably, but is also evolving, and has attained the set goals for year 2008 thanks to that.”

Normunds Meijers , a member of the Board of Directors of SIA Lango up to now, will become the president of the Council. Other members of the Council will be Sandris Rūgums, the partner and president of the Board of Directors of SIA Eventus Partners, Mārtiņš Bluķis, the partner and member of the Board of Directors of SIA Eventus Partners, and Anitra Meijere, the co-owner of SIA Lango.

The member of the Council of SIA LangoSandris Rūgums explains: „Lango is an innovative company and the market leader in the sector of ready-made and instant food products in Latvia. The rapid development of the company so far allows to justifiably considering it a pioneer of the industry. At the moment it is necessary to continue what has been started by moving into other markets, especially in other Baltic countries, thus becoming a real Pan-Baltic company. This strategy will be carried out in several stages. Currently investments are being made into acquisition of the Lithuanian market, and as the next strategic step the company will accomplish the acquisition of the Estonian market. Additional investments will be involved in order to accomplish that.”

The company Board of Directors under the leadership of it’s president Andrejs Fraimanis will continue to deal with the strategic and operative issues of the operation of SIA Lango.

In comparison to the respective period of year 2007 the turnover of SIA Lango in Latvia has increased for 35% in the first half of the year, reaching  1800000  million lats.

In June of this year Lango has carried out a strategic step and started the export of production in Lithuania, founding a subsidiary company UAB Lango LT in Vilnius. At the moment a VAT payer number has been obtained and deliveries to the first clients have started – the supplies to SIA Rimi and SIA Palink (IKI) supermarket chains are delivered each day. The purchase department and financial department have been created and the marketing department is in a formative stage. Starting with December 8 this year, logistics and distribution throughout the Lithuania has been started. The company is planning to achieve a turnover of 1.4 million EUR in the first year of it’s operation.

More about Lango:

Lango is the leading producer of ready-made and instant food products and was established in 1992 by the local entrepreneurs. Thanks to investments of 2.5 milllion lats, the company has built a new production unit that complies with laws and standards of European Union, as well as obtained innovative technologies that allow producing products with a longer shelf-life without adding unhealthy preservatives. The company makes salad, pancakes and sandwiches that are positioned in the following groups – everyday products group and classical products group. A subsidiary company of SIA Lango - UAB Lango LT - was established on June 17, 2008, with Reinis Bērzkalns as a director, and an active acquisition of the Lithuanian market was started.

About Eventus Partners:

Eventus Partners is a corporate finances company that has been operating in the Baltic market for more than 10 years. The company offers investment bank services to private and corporate clients. The main directives of it’s work are consultations during a takeover and acquisition of a company, the attraction of financing and capital, as well as consultations about the strategic direction of the company and issues of financial management. So far Eventus Partners has realized a successful cooperation with many clients like SIA Pure Food, AS Smiltenes piens, AS Māju Serviss KSA.

For additional information turn to:

Jolanta Gaudieša
Specialist of public relations of SIA Lango
Phone:  7847262  , mobile phone:  2 9219704 
E-mail: jolanta.gaudiesa@lango.lv