Company briefs - 2011-04-14

The Estonian construction company Koger & Partnerid has applied to the Harju County Court to begin court-protected reorganization, reports ERR. The company plans to restructure its activities as a going concern. “One objective of the reorganization is to preserve jobs and another is to as much as possible fulfill obligations to creditors,” said the company’s chief, Andres Koger. “Negative effects of the financial crisis in the building sector were bigger than expected. As a company based entirely on Estonian capital, we have not had the buffers characteristic of international companies to finance long-term losses,” said Koger. The company currently employs approximately 50 people. Historically, it has been one of Estonia’s top four construction firms.

Liepaja Port handled 1,192,952 tons of cargo during the first three months of this year, which is 18.4 percent more than over the same period last year, Liepaja Special Economic Zone’s public relations manager Liga Ratniece-Kadege said, reports LETA. General cargo made up the largest part of the cargo turnover. For the first three months of the year, the port handled 565,200 tons of general cargo, a 42.9 percent increase when compared to the first quarter of 2010. The amount of general cargo increased thanks to growing amounts of timber, scrap metal, ferrous metals, ro-ro cargo handled, as well as traffic on the Liepaja-Travemunde ferry line. 447,900 tons of bulk cargo and 179,800 tons of liquid cargo were handled at the port in the first quarter of the year.