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Lithuania’s Elsis group to upgrade water supply system in Ukraine’s Chernigov

Vandentiekio vamzdžiai
Karolio Kavolėlio/BFL nuotr. / Vandentiekio vamzdžiai
Šaltinis: BNS

Elsis TS, a subsidiary of Lithuania’s ITC group Elsis, will upgrade the water supply system in Chernigov, Ukraine, under a more than 4 million litas (EUR 1.16 mln) worth contract signed with Chernigov’s water supply utility at the end of July.

The works should be carried out in eight months, Elsis said in a press release adding that the project was financed by the European Bank for Reconstruction and Development (EBRD).

Elsis TS CEO, Darius Imbrasas, stated that the company sought to implement long-term projects in Ukraine, therefore it would soon establish a full-fledged representative office in that country.

“This strategic project will let our potential customers get a better view of the products being developed by the company, and it will also enable us to boost sales and exports and to consolidate our positions in Ukraine’s market,” Imbrasas said.

Elsis group posted 7.4 million litas in consolidated net earnings for 2011, up 74 percent from the year-earlier figure of 4.2 million litas. Its consolidated sales revenues shrank by 16.3 percent, year-on-year, to 58.7 million litas.

The group also includes two companies active in Russia, i.e. Elsis-Spb and Elsis-Kaliningrad.

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