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Tuesday 25.09.2018 | Name days: Rauls, Rodrigo
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Ķekava poultry factory could end up under its Lithuanian competitors

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvia’s Ķekava poultry factory’s debts have ended up in the hands of its Lithuanian competitors. Experts have yet to give any predictions about the situation. However, they believe the company will continue to function as usual, Dienas Bizness writes.

Management of Ķekava poultry factory confirms that the company has received an official letter from Nordea Bank regarding the company’s credit ceding to one of Ķekava’s largest competitors in the Baltics – KG Group. It is a company based in Lithuania. It owns two poultry factories that directly compete with Ķekava poultry factory. KG Group is part of Kauno Grudai – one of the largest poultry and animal feed producers in the Baltics.

The management of Ķekava poultry factory say Nordea Bank did not inform the company about the selling of the credit. Nothing was mentioned about the fact that the credit will be sold to the company’s competitors.

“Even though confidentiality is highly praised in business, but so is fair and ethical attitude. Something the bank’s actions cannot be called, selling its client’s credit to its competitors. We still do not know the conditions of this transaction,” – says the Chairman of Ķekava poultry factory Andris Vilcmeiers.

Nordea Bank has yet to comment this situation.

Ref: 103.109.109.8430


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