News: Latvia - LVL 1 mln invested in Recro automatic transmission remanufacturing plant in Cesis
Company Recro has invested LVL 1 million (GBP1.28 million) into Eastern Europe's only automatic transmission remanufacturing plant, which is located in Cesis, Latvia.
Tuesday, 16th March 2010
The plant has the most up-to-date equipment for remanufacturing and comprehensive testing of automatic transmissions of all sizes and applications, reports LETA. "At the moment, we mostly remanufacture automatic transmissions for clients from Sweden, Finland, Denmark, also from Latvia, Lithuania and Estonia. We are also planning to expand into the Russian market in the near future," said Recro board chairman Raimonds Aploks, pointing out that increasingly more cars are equipped with automatic transmission, therefore the demand for quality remanufacturing thereof is increasing. Aploks says that Recro offers lower prices than automatic transmission manufacturers, at the same time providing quality service. "The company was established without taking any bank loans, which enabled us to offer lower prices," explained Aploks. The company was established in September 2008, last year it turned over LVL 190,000. According to data from "Firmas.lv", Vilnis Rozentals owns 90% of Recro shares, whereas Aploks has a 10% interest in the company.