Pakterminal’s value in 2008 transaction was 39 mEUR

The value of the Estonian oil transit company AS Pakterminal and its parent firm in the 2008 share swap transaction by which the companies went into the hands of Vopak E.O.S. was 616 million kroons (EUR 39.36 mln), it appears from the annual report of Vopak E.O.S.
Vopak E.O.S. issued new shares for the acquisition of [...]

980 passengers use Tallinn-Stockholm air route first season

The seasonal Pärnu-Stockholm air route launched by Estonian Air in collaboration with Pärnu spas carried 980 passengers while in operation from 30 April to 23 August.
Estonian Air spokesperson Ilona Eskelinen told BNS on Monday that without collaboration with the Tervis sanatorium and the Strand spa and conference hotel launch of the air route and its [...]

Estonia pianos among top ten in the world

Estonia pianos constructed in Tallinn have risen to among the top ten pianos in the world thanks to their technical attributes and quality, reports America’s authoritative ranking of pianos, Larry Fine’s “Piano Book”.
Piano technician and consultant Fine, in his most recent publication, ranks Estonia in the same position as Steinway pianos made in New York. [...]

Estonia concluded visa representation agreement with Austria

Estonian Foreign Minister Urmas Paet and Austrian Foreign Minister Michael Spindelegger signed a visa agreement in Tallinn today according to which Austria will begin to represent Estonia in Saudi Arabia and Qatar. Foreign Minister Urmas Paet stated that Austria’s help in issuing visas is very important because it is an indicator of the European Union’s [...]

Bigbank earns 2.86 MEUR profit in Q2

Bigbank earned a net profit of 44.8 million kroons (EUR 2.86 mln) in the second quarter of this year, a 10.6% improvement on the corresponding period a year ago.
Profit before impairment allowances and one-off revenues from the premature termination of bonds and prepaid income tax assets totalled 80.2 million kroons, compared with 59.8 million kroons [...]

Rimi Eesti Food makes 3.8 MEUR profit

Rimi Eesti Food, owner of the Rimi and Säästumarket chains, made a net profit of 59.8 million kroons in 2008, nearly 13% more than the year before.
The sales proceeds of Rimi Eesti Food grew by nearly 8 percent last year to 6.12 billion kroons.
Rimi Eesti Food notes in its annual report that the market share [...]

Estonian Air to raise number of flights to Vilnius

Estonian Air will increase the weekly number of operations between Tallinn and Vilnius to eight starting on 31 August by adding evening flights on Tuesdays, Wednesdays and Thursdays.
At present Estonian Air flies between the Estonian and Lithuanian capitals five times a week in the morning, or on Mondays, Tuesdays, Wednesdays, Thursdays and Fridays.
“The route between [...]

Cargo handling equipment maker opens 19 MEUR plant

Cargotec Estonia AS, Estonian subsidiary of the cargo handling equipment manufacturer Cargotec, opened a 300 million kroon (EUR 19 mln) plant and office building in this north-eastern Estonian border city on Thursday.
The builder was YIT Ehitus AS.
Cargotec manufactures cargo handling equipment for ports, ships, storage terminals and industry. The company listed on the Helsinki stock [...]

Household savings increased in July

Activity and demand in the credit market are low, which is in line with Estonia’s current economic development characterised by modest investment demand and private consumption. In July, the corporate and household loan and leasing stock declined by 1.8 billion kroons, i.e., 0.7%. The loan and leasing stock stood at 259 billion kroons at the [...]

Economic policy statement of Eesti Pank

The Estonian economy has quickly adjusted to new circumstances brought about by the global crisis that hit the world last autumn and various indicators characterising the vulnerability of the economy have improved. If Estonia is able to meet all the Maastricht criteria to adopt the euro in 2011, a good foundation will be laid for [...]