JSC Valmieras piens investment is sold

On November 1, 2011, the transaction was concluded to sell the PAP owned 91.89 % of Valmiera piens to the share investor Lougo LV SIA, a company registered in the Register of Enterprises of the Republic of Latvia.

In recent years, under targetet and quality management of the company has been optimized, large investments in infrastructure and the development of Valmieras piens have been made, and outstanding industry professionals in the management of the company have been attracted. Despite the difficult situation in the dairy market in Latvia, Valmieras piens has strengthened its position and deservedly ranks in the top three. The situation in the market is still difficult, competition is high, so attracting a new investor is a positive signal.

"We hope that the presence and support of the new owners will open up new opportunities for the company in the Latvian market, but mainly new development opportunities in export markets," says Edgars Šķenderis, Member of the Board of the PAP.