Riga, 2011-09-28 08:13 CEST (GLOBE NEWSWIRE) -- Last week, expanding its business, a subsidiary company in Russia of the precious metal trading company "GOLDINVEST Asset Management" opened its first gold purchasing shop in Moscow, with the view to purchase gold and silver jewellery from the public. Also, the purchasing shop is taking gold and other precious metal coins from public for commission trade.
As Ojars Apsitis, director of the Russian company OOO "GOLDINVEST Asset Managemet" (Ltd.) pointed out: “Opening of the shop is an important milestone in the company's development, because it allows us to initiate the physical trade, which until now was impossible. Russian market is very peculiar with its legislative nuances and barriers, so the experience in operation of this shop will be very important for us to implement our future plans."
"We are pleased that we finally managed to overcome all bureaucratic and legal nuances of legislation in the Russian Federation, and have opened the first gold purchasing and distribution shop outside Latvia. The Russian market and Moscow, in particular, have a huge potential and we hope this first step will enable us to improve our sales volumes and offer our services to investors in Moscow. Our advantage is the location in the European Union and favourable tax policy for gold investments; therefore we plan to make more use of these advantages through our subsidiary company in Moscow. At the same time, our active participation in the domestic market through purchasing and sale of precious metals will ensure greater profitability and visibility," says Peteris Avotins, Council President of the SC “GOLDINVEST Asset Management".
About JSC “Goldinvest Asset Management”:
“Goldinvest Asset Management” was founded in 1997 and its key business areas include purchase, processing and sales of household and industrial precious metals, as well as purchase and sales of precious investment metals (gold, palladium, platinum, silver, etc.). The company grants also loans against precious metal pledge. The company has established an affiliated company in Russia, a branch in Lithuania, and it owns shares of JSC “VEF” and “VEF Komunikaciju Serviss”. Shares of the company are listed on the alternative market First North of the stock market NASDAQ OMX Riga. See more information about JSC “Goldinvest Asset Management”: http://www.latgold.lv/
More information:
Mr Arnis Linde
Project Manager
JSC “Goldinvest Asset Management”
Phone: +371 22050691
E-mail: arnis.linde@latgold.lv
Certified adviser:
Mr Girts Apsitis
Chairman of the board
“Ardente” Ltd
Phone: +371 29466577
E-mail: ardente@ardente.lv