April 6, 2009


Latvia's BTC acquires grain processing firm


Latvia's Baltic Transshipment Center (BTC), owned by the cooperative Scandinavian Farmers, has acquired the grain processing company Rezeknes Dzirnavnieks based in Eastern Latvia.


Rezeknes Dzirnavnieks purchases, stores, processes, forwards and sells grain, as well as produce and sell flour and fodder. The company owns grain storage facilities with a capacity of 53,000 tonnes, while net turnover increased 41 percent on-year to US$8.33 million in 2008.


The acquisition of the grain mill operation in Latvia will strengthen Scandinavian Farmers' position in the Baltic market, according to a representative of Rezeknes Dzirnavnieks' management.


BTC is focused on logistics and transportation of agricultural products. The company achieved a turnover of EUR40 million (US$54.1 million) last year.