Liepaja, 2013-01-31 12:37 CET (GLOBE NEWSWIRE) -- Joint Stock Company “Liepajas Metalurgs” informs about the work that began jointly with the Finance Ministry of Latvian Republic for the elaboration of the company’s long-term debt-commitment restructuring plan the purpose of which is to find a complex solution for the improvement of the financial situation including elimination of the short-term liquidity.
The fact need to be noted, that in addition to the credit of LVL 60 million granted by “UniCredit” S.p.a., previously accumulated funds of Joint Stock Company “Liepajas Metalurgs” as well as existing current assets were invested into the modernization in order to begin and continue construction of infrastructure for the modernization of the Melt Shop and the revamping of auxiliary production units.
The repayment of the principal amount and the interest to “UniCredit” S.p.a. started in 2012, which amounts to LVL 11 million and the obligatory purchasing component payments amount to LVL 5,8 million. Additionally it shall be indicated that the payments of the obligatory purchasing component during 2009 – 2012 (inclusive) were made in the amount of LVL 10,6 million.
Līga Šenfelde
Assistant of chief Economist
63455926, shenfelde@metalurgs.lv