Notice of the court’s decision and on the manufacturing process of the Company

Riga City Northern District Court on Thursday 19th of March, gave judgment to terminate the proceedings of JSC “Riga Shipyard” insolvency case after the company “LPP NORDWEG SHIP REPAIR” application.

This year has started successful in both the shipbuilding and ship repair sectors. Riga Shipyard already has carried out extensive repairs to 10 ships this year, which provided workload in the winter season and at the moment 4 vessels are being repaired.

Next week, on 26th of March, it is planned to launch a newly built ship hull from the slipways. This will be the first hull to be launched this year. The hull is built for Danish company Vestvaerftet Aps, which specializes in fishing trawler building and fitting. Riga Shipyard has been cooperating with Vestvaerftet Aps since 1998, which has resulted in building of more than 30 hulls.

Active marketing policy of Riga Shipyard ensured a stable work of the factory in Ship repair as well as Ship building industries that allows planning the increase of turnover and profit in 2015.