Subsidiary of Lithuania’s Western Shipyard signs million-euro deal with Norway’s NLI

Lithuania’s Vakarų Konstrukcijos (Western Structures), subsidiary of Vakarų Laivų Gamykla (Western Shipyard, or VLG) controlled by Estonia’s BLRT Grupp, has signed a 4-million-litas (EUR 1.16m) deal with NLI Offshore & Marine Products, which is part of Norway’s NLI.

„Vakarų laivų gamyklos“ dukterinė kompanija statys du naujus daugiafukcius laivus.

. / VLG nuotr.

Under the contract, the Lithuanian company would manufacture cable reels for mooring lines and ropes, VLG said in a press release.

The company is now preparing bids for three new orders, which may be worth up to 20 million litas in total.

Orders placed by NLI Offshore & Marine Products accounted for some 16 percent of Vakarų Konstrukcijos’ turnover in 2011.

VLG group posted 10.399 million litas in audited consolidated losses for 2011 reversing the year-earlier net profit of 9.524 million litas. Its sales revenues totaled 427.937 million litas.

Subsidiary of Lithuania’s Western Shipyard signs million-euro deal with Norway’s NLI

Economy

Feature

Opinion

Politics