Court freezes 25 pct of shares of Krediidipank

Acting on a claim filed by the Bank of Moscow, the Harju County Court has frozen 27.5% of shares of Eesti Krediidipank that are held on the security accounts of four companies: Olix Holdings, Lazuron Investments, Firmex Investeeringud and Genovia Invest.

Krediidipank announced that the shares were frozen in connection with the share transactions made by the former president of Bank of Moscow.

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Garment maker Bastion to expand to foreign markets

The garment maker Bastion, which has mainly operated in Estonia so far, is planning to increase turnover to 10 million euros in the next three years and to expand to foreign markets, the daily Postimees reported.

The turnover of the company has so far remained within a few million euros – it was 1.5 million euros in 2010 and 1.55 million euros in 2009.

CEO of Bastion Gert Stahl told the paper that the company could not hope for any more growth in Estonia. Next year the plan is to go to break into the British market. “We hope to establish an integrated retail and e-trade unit that should support each other,” he said.

After the British business has been geared, the company is planning expansion to Germany, the Netherlands, Denmark, and Belgium.

In order to grow turnover and profit, the company is planning to come out with a new trade mark, Beself. New designers and marketing people who have contributed to the creation of the trade mark have come to the company.

Source: Estonian Review