The new plant for Latvia“s fiberglass maker Valmieras Stikla Skiedra (VSS) will be built by Merks construction company in the northern Latvian town of Valmiera.
Estonia“s Merko Ehitus, the parent c…
The new plant for Latvia“s fiberglass maker Valmieras Stikla Skiedra (VSS) will be built by Merks construction company in the northern Latvian town of Valmiera. Estonia“s Merko Ehitus, the parent company of Merks, said the contract has a net worth LVL 3.7 million (EUR 5.2 million). The construction company needs to finish the new plant by April 2006. VSS finance director Imants Saulitis said the company intends to cover the building costs with the loan it received from Hansabanka. VSS is planning to invest a total of LVL 24.3 million in the new fiberglass production facility. The Latvian government has approved a 40% tax rebate for the new plant, subject to approval from the European Commission.