OREANDA-NEWS. On 11 July 2008 was announced, that JSC Grindeks has been awarded the „Baltic Corporate Excellence Award 2008” as the best Latvian company listed in the Baltics. The award was given for business successes and readiness to challenge in the dynamic business environment.

„Baltic Corporate Excellence Award 2008” was awarded based on the results of evaluation made by CE Services, a financial analysis company, and CE Asset Management, its partner operating in Switzerland. This valuation was aimed to elect the most successful listed company in the Baltics and every country individually based on their historic financial results and success of business model, and to encourage other listed companies to improve their transparency, financial results and other aspects to become an investment-attractive object.

JSC Grindeks was recognised the most successful company in Latvia leaving behind such companies as Latvijas Gвze and Latvijas Kuмniecоba. In general in the Baltics, Grindeks is the sixth most successful company in valuation of its business model. AS EEsti Telekom, an Estonia-based telecommunication company was recognised as the most successful listed company in the Baltics and in Estonia, in turn, AB TEO LT, a telecommunication company, was recognised as the most successful company in Lithuania.

In general, there have been evaluated 32 companies. Valuation of every company was based, in principle, on the corporate historic development: 80% of analysis has been devoted to financial results, 10 % - to corporative management efficiency and 10% - to success of the chosen business model.