UAB Baltijos liftai, a subsidiary of AB City Service, acquired UAB Šiaulių liftas on 8 November, 2010. The acquired enterprise operates in the field of elevator and elevation equipment installation, design, technical maintenance, production. The value of agreement is LTL 1 million. By acquiring this company we have entered into the new stage of a branch that is promising and interesting to us - maintenance and renovation of the residential apartment building elevators. The long years experience of Šiaulių liftas will prove to be useful developing operations in Lithuania and foreign markets, stated Žilvinas Lapinskas, Director General of AB City Service. AB City Service focused on the renovation of elevators in residential apartment buildings at the end of 2009. Еаrly this year UAB Baltijos liftai was established to develop operations further. This enterprise cooperates with Orona, elevator producer of Spain, a Belarus company Mogilevliftmash, and Russia's producer of elevator monitoring equipment, LKDS. According to calculations by AB City Service, a significant part of the elevators in the houses under maintenance of the Group have already exceeded the 25 years limit of operating period. Directives of the European Union determine that elevators operating longer than this period, or any other period stated by producer, have to be replaced or renovated. According to these estimates, more than 400 elevators need renovation in the buildings administered by the subsidiaries of City Service in Vilnius. More than 6000 elevators are installed in residential apartment buildings throughout Lithuania. City Service group operates in Lithuania, Latvia, Russia and Ukraine. City Service manages facilities in buildings the total area of which is more than 18 million sq. m. Vilius Mackonis Public Relations Officer +370 5 2394900