OREANDA-NEWS. September 09, 2008. For the forthcoming three years the duties of Chairman of the Board of SJSC Latvijas dzelzcels will continue the existing Chairman of the Board Ugis Magonis, reported the press-centre of Latvijas dzelzcels.

Along with Ugis Magonis the work in the Board of Directors will continue the existing Members of the Board Aivars Straksas and Andris Steinbriks. Deputy Chairman of the Board Uldis Petersons discontinues work in the Board of Directors, as he has decided to retire.

Currently the Board of Directors consists of three persons, because Uldis Petersons has resigned from the duties of the Member of the Board.

Ugis Magonis, Chairman of the Board of SJSC Latvijas dzelzcels, says: “In the last three years we have put much work in the performance and development of the company. Last year has been a very successful year, when we reached good results in economic and financial activities. The Board of Directors of LDz has to continue with the reforms launched for railway modernization and strengthen competitiveness in dynamically growing transportation market.”

In 2007 Concern Latvijas dzelzcels made record profit – 28.29 million lats and reached 262.5 million lats net turnover. The profit of concern grew tenfold compared to 2006, but net turnover – by 28.6%. SJSC Latvijas dzelzcels has kept its leading position in transportation market of Baltic States` railways; it takes up 41% of this market.