Valpro Corp.

Company Description

The Latvian-Australian joint venture joint stock company Valpro Corporation with 30% of foreign investments and 70% of Latvian based capital is established in February 1992. In the beginning the corporation runs on foreign trade and international transport services. In 1993 JSC Valpro Corp. acquires wood working company Vidzeme Ltd. In December 1995 the Valmiera Fire extinguishing device plant (VuiR) "Latura" becomes a private enterprise. In 1997 Valmiera Ltd. is sold and JSC Valpro Corp. remains a metal fabricating company. From 1992 to February 2002 president of the company is Edgars Capus, then Aleksandrs Butins and from 27 th June 2003 the president&＃039;s chair is taken by Gundars Kleinbergs, and the council consists of: Janis Lielcepure, Girts Rungainis, Valdis Mitenbergs.Structure of the board is: Gundars Kleinbergs, Zaiga Muizniece and Armands Berzins. At present foreign investments amount to 15% and the rest are Latvian based. JSC Valpro Corp financial indicators Period: Turnover (LVL): Export (%): 1995 3,535,032 1996 2,087,537 86.00 1997 3,204,062 76.00 1998 3,174,088 71.00 1999 2,529,274 75.92 2000 4,443,885 88.44 2001 4,073,796 87.00 2002 6,356,782 94.89 2003 4,968,684 93.63 2004 6,248,690 93.00 One year after privatisation. Profit from metal fabricating is LVL 1,361,006 from total turnover.