Invalda, one of the largest Lithuanian investment companies, received the permission from the Competition Council of Lithuania to acquire up to 100 percent of a yarn company Vernitas shares.<\/p>\n
In 2011 Invalda Group purchased shares from the minority shareholders and increased a stake in Vernitas from 11.7 percent until more than 20 percent.<\/p>\n
“We saw that Vernitas had a loss for a many years, and management, in our opinion, didn\u2019t perform changes that could increase shareholders value. Therefore, under acceptable conditions we would be interested to enlarge the owned stake up to controlling and initiate changes that will increase competitiveness of the company.” – said Darius Sulnis, the president of Invalda.<\/p>\n
He noted that currently there are no agreements with controlling persons of Vernitas.<\/p>\n
Vernitas is now controlled by the three managers of the company – Sauliaus Liubinas, Rimantas Grabauskas and Vladas Danilovas with their families.<\/p>\n
In 2010 sales of Vernitas, which is located in the Marijampole, amounted to 41.7 million LTL and the losses – 548 thousand LTL. The main business of Vernitas is preparation of textile fiber and spinning, wholesale and retail trade of textile products. Most of the acrylic yarn manufactured by Vernitas are sold in the CIS markets. <\/p>\n","protected":false},"excerpt":{"rendered":"
Invalda, one of the largest Lithuanian investment companies, received the permission from the Competition Council of Lithuania to acquire up to 100 percent of a yarn company Vernitas shares. In..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[6],"class_list":["post-13136","post","type-post","status-publish","format-standard","hentry","category-press-releases","tag-imported"],"acf":[],"yoast_head":"\n