OREANDA-NEWS. January 17, 2013. Chairman of the Board of Joint Stock Company “Liepajas Metalurgs” Mr. V.Terentjevs informs that the purpose of the article published in newspaper “Dienas bizness” on 15.01.2012 was to attract attention of the government of Latvian Republic to the situation in the European market and to unequal competition conditions, as well as to the disproportionate development rate of the renewable energy resources and its financing sources in our state. It is planned that costs connected to the obligatory electricity surcharge ("OIK" in Latvian) will increase by 58.5% for each kWh used.

In order to reduce risk related to duties that companies will have to pay for green energy the Association of manufacturers of constructional materials has presented its proposals to the Cabinet of Ministry of Latvian Republic.

Joint Stock Company “Liepajas Metalurgs” in 2012 produced 836 000 tons of billets for processing and 732 000 tons of rolled products out of this amount.

For the subsequent modernization of the company in relation to the construction of a new rolling mill a working group has been established, which is a normal practice for Joint Stock Company “Liepajas Metalurgs” to accomplish modernization tasks.

Likewise we inform that Joint Stock Company “Liepajas Metalurgs” is continuing to work according to its planning.