EANS-News: Baltic Finance acquires Hetera Ltd

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Mergers - Acquisitions - Takeovers

London. (euro adhoc) - Baltic Finance PLC demonstrates its strategic
orientation and acquires the Latvian Hetera Ltd. At the same time,
the company obtains the licenses required for further investments in
dolomite and gravel mining.

Due to the upcoming repair of approximately 60 percent of highways in
Latvia from the EU Cohesion Fund and the ERDF, amounting to a total
volume of 3,823,208,862 EUR, increase in local demand for dolomite
and gravel is to be expected. This results in good prospects for the
sales and profit development of Hetera Ltd. Baltic Finance PLC has
seized this opportunity and bought the Latvian company. In accordance
with the general strategic orientation, the takeover is only a first
step, and further investments in Latvian road construction are
expected to follow. As a short-term measure, there are plans to take
over Remex LV, a company specialising in the distribution of precious
stones, semi-precious stones and synthetic gems and jewels. In the
medium term, further acquisitions of related companies as well as
investments in the direct extraction of raw materials are to be
pursued. These acquisitions refer both to the integration of existing
distribution networks and to the expansion of the entire dolomite
mining on site, for example through purchases of stone, dolomite and
other mineral quarries. By means of this pooling of know-how, the
management hopes to accomplish synergy effects that stimulate the
development of a broader product portfolio as well as innovation in
the production and marketing of raw materials. The projected turnover
of Baltic Finance PLC for 2011 is initially about 3 million EUR and
is expected to continuously increase in the following years.

Further inquiry note:
Janis Ruttuls
Phone: +37129466767
E-Mail: jruttuls@inbox.lv

end of announcement euro adhoc
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company: Baltic Finance Plc
c/o UK COMPANY SECRETARIES LTD, 11 CHURCH ROAD
D-KT23 3PB GREAT BOOKHAM SURREY
phone: +37129466767
FAX: +37129466767
mail: jruttuls@inbox.lv
WWW: http://www.baltic-finance.co.uk
sector: Financial & Business Services
ISIN: GB00B642LK05
indexes:
stockmarkets: Open Market: Frankfurt
language: English