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Latvia welcomes big investment 65.5- million-euro (93-million-dollar) from Norwegian building firm BAU-HOW



Bau-How recently invested in Latvia

RIGA,  BNS

Norway's Bau-How construction modules maker is planning to start the production of dwelling house modules in the territory of Ventspils freeport in northwestern Latvia in September 2009, according to information posted on the company's website.

Bau-How says it will initially lease a brand new factory from Heimdal Building Systems International AS, situated in the freeport 800 meters from where BAU-HOW is erecting our own factories in Ventspils.

The company notes that the module constructions will be made for the Scandinavian market and that up to four factories could set up in Ventspils.

According to information at BNS disposal, Bau-How is set to provide more exhaustive information on its business plans in Latvia next week, on Jun. 3.

Bau-How has plants in such countries as Sweden, Norway, Denmark and Germany. The company makes steel modules that are used in the construction of multi-apartment houses.

HBSI Production, the Latvian daughter of Norwegian company Heimdal Byggsystem International AS, from which Bau-How is leasing the factory, announced in mid-2007 about plans to build a plant in Ventspils. The freeport let the company a 7.6 hectares land plot for this purpose.

Riga newsroom, +371 6708 8606, eko_zinas@bns.lv

 


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Commercial Real Estate

"Avers Centrs Ltd with NAI Baltics as broker and investment acquisition consultant recently carried out a sale - leaseback transaction of its newly-built logistics warehouse complex in Riga, Latvia. We are very pleased with the transaction and NAI Baltics role in managing the transaction process, in particular considering current fluctuating market circumstances. NAI Baltics management of the process, from start to finish, was excellent, starting from the offering memorandum, to their management of the property tours, buyer selection process, due diligence and close. The entire team was extremely professional and knowledgeable. All during the complicated and lengthy transaction, their attentiveness, attention to details, clear and timely communication, the negotiating and mediation skills, and problem-solving abilities were notably worthwhile in completing a transaction. We are looking forward to working with NAI Baltics team again, and highly recommend them in the event you are considering utilizing their services."
Mihails Litevskis ( Михаил Литевский )
Member of the Board
Avers Centrs Ltd.




Commercial Real Estate






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