Anti-Russian Sanctions Have Led to the Closure of the Rebir Plant in Latvia
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4 Articles
Rebir, a Latvian power tool manufacturer with a 60-year history, is ceasing to exist due to sanctions against Russia and Belarus, which have deprived the company of key sales markets. Shareholders of the Latvian plant Rebir have decided to liquidate the company due to the loss of major sales markets amid sanctions, Sputnik Latvia reports. The company operated without losses and debts, but the owners saw no prospects for further development. “We …
In Latvian Rezekna, a 60-year-old enterprise for the production of Rebir electrical tools is being dismantled because of anti-Russian sanctions, reports LSM. The largest shareholder Nikolai Simorev explained the liquidation of the enterprise by Western sanctions against Russia and Belarus...
Latvia Is Closing Its Electrical Instrument Production Facility as a Result of the Sanctions Policy.
The company lost its main marketing markets because of sanctions against Belarus and Russia. "We were looking for alternative ways of exporting through Turkey and Kazakhstan, but we failed. Yes, we looked westward, trying to master that market, but it was very large working capital, and unfortunately we could not afford it," explained the chairman of the company's board, Nikolai Simorev.
The Latvian enterprise Rebir, which had produced electrical tools in Rezekna for almost 60 years, decided to eliminate after losing key markets. The main buyers of the company's products were Russia and Belarus, written by Sputnik Latvia.
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