Latvian Nelss sells leasing subsidiary Swedish Marginalen AB has acquired Latvian lessor Nelss Lizings from building supplies and lumber export corporation Nelss, which had previously owned 95 per cent of shares Nelss Lizings generated Ls1.3m (1.8m) in net sales last year, up 48.6 per cent year-on-year, and made Ls270,300 (384,602) in profit, up 95.7 per cent from 2006
Swedish Marginalen AB has acquired
Latvian lessor Nelss Lizings from building supplies and lumber
export corporation Nelss, which had previously owned 95 per cent of
shares.
Nelss Lizings generated Ls1.3m (€1.8m) in net sales last year,
up 48.6 per cent year-on-year, and made Ls270,300 (€384,602) in
profit, up 95.7 per cent from 2006. Share capital stands at
Ls280,000 (€398,404).
Nelss sold the leasing company since financial services was not
the company’s core business activity, explained Andzelika
Hotelovica, who will remain as board chairwoman of Nelss Lizings.
Nelss had previously refused offers to sell to local companies.
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