Posts Tagged ‘estonian export’

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New Credit Becomes Available to Exporters

In Uncategorized on April 23, 2011 by admin Tagged: , , , , , , ,

BBN – At its April 21 meeting, the cabinet approved a proposal to launch a new subordinated credit scheme to support export-oriented companies. The “subordinated credit program” financed from the EU structural funds is meant for export-oriented Estonian companies that lack capital or sufficient securities to finance their project, or whose project is found to be too risky by credit institutions.

“Our objective is to improve access to capital. The subordinated loan instrument upholds growth and expansion of enterprises,” said Minister of Economic Affairs and Communications Juhan Parts.

Under the new program, two types of credit will be made available – subordinated loans for investment in technology, and subordinated loans integrated into the currently available entrepreneurship support package.

As a result of the recent economic downturn, many businesses have difficulties obtaining credit. For example in case of sophisticated technology investments, commercial creditors require a minimum contribution of 40 percent. But since turnover, profitability and capital dwindled during the crisis, self-financing capacity is still low. Nor have securities recovered their pre-crisis value. However, to prepare for the growth phase, investments are vitally needed for enhancing productivity and expanding into new international markets.

Since Enterprise Estonia’s technology investment program and other support measures have now ended, enterprises have been left high and dry, a problem the new instrument aims to correct.

The program, financed by the European Regional Development Fund, is worth approximately 27 million euros, and will be administered by KredEx in cooperation with banks and leasing companies. Loans for technology investment will be available in May, whereas companies qualifying for the support package are eligible for subordinated loans already.

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of new sales leads for you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!

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Estonian tech firm benefits from digital revolution

In Uncategorized on September 16, 2010 by admin Tagged: , , , , , , , , , , ,

Vecly EstoniaEstonian tech startup Vecly aims to benefit from the global digital revolution. The company is developing software for Digital TV STBs (set-top boxes) to turn them into multimedia centers and make us use them for many other means than just TV, writes testmarket.eu

The company that is owned by Indrek Raig, Yrjö and Rait Ojasaar and Artec Group develops software for Artec’s STB’s and sells them in Estonian electronic stores.

But Vecly is now targeting much larger partners such as Renesas, NEC, NXP and Trident-Adecq. The company is also having negotiations with Levira, the main TV and radio broadcast network operator in Estonia.

Vecly’s consideration is following: China, where majority of STBs are obviously produced, is an inexpensive country for electronics production, but Chinese software is far from being perfect. Here’s where Vecly enters into the game.

Yrjö Ojasaar says that in the next 3-5 years transition to digital broadcasting will happen in many countries worldwide. Consumers will have higher quality TV and much higher number of channels.

Want it or not, all the analog TV watchers will need to buy the STB. But STB, as we know, is basically a computer, enabling much more than just showing TV. It allows to play games, without the need to buy separate console, X-Box or Wii. It can also be used to share content – movies, pictures etc. It allows video on demand. One can even use Skype, Facebook and Twitter via STB.

„Set-top boxes become the multimedia centers of our lives!“ Ojasaar imagines.

And that will open up totally new possibilities not only for consumers, but for advertisers. In times when conventional TV ads are drying up and Internet advertising is growing, one could expect to see new special advertising channels distributed via STBs. For example a gardening channel paid by your local gardening store.

We’ll see. One thing is for sure though: Vecly wants to be present in all the countries going through the switch from analog to digital.

source: BBN

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Estonian exports up 7%

In Uncategorized on September 6, 2010 by admin Tagged: , , , , , , , ,

Exports increased by seven per cent in Estonia in June compared to the same month last year, official figures show.

According to the Baltic Course, exports totalled 10.2 billion kroons (£537 million) at current prices, although imports were higher at 12 billion kroons.

Machinery and equipment manufacturers took the biggest share of Estonia’s exports at 22 per cent, followed by mineral products, which made up 13 per cent.

Wood and timber products accounted for 11 per cent of total exports in June and levels were up 57 per cent year-on-year.

During the first half of the year, exports from Estonia have now risen by 22 per cent on the same period in 2009.

The publication of the figures comes after Statistics Estonia revealed that the country’s economy returned to growth in the second quarter of 2010.

Gross domestic product was 3.5 per cent higher between April and June than it was during the same period last year.

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Production of Estonian industrial enterprises grew by 21% in June y-o-y

In Uncategorized on August 5, 2010 by admin Tagged: , , , , , , , ,

According to Statistics Estonia, in June 2010 the production of industrial enterprises grew by 21% compared to June of the previous year.

The production of manufacturing also increased 21% compared to June of the previous year. The 2% growth reported in January 2010 was followed by a rapid increase – in March enterprises gave 11%, and in April and May 18% more production than in the corresponding months of 2009. In June, export sales of the manufacturing production increased significantly (42%). Demand on the domestic market was still insufficient and the domestic sales fell 6% compared to June of the previous year. In June, two thirds of the whole production of manufacturing was sold on the external market.

In June, production exceeded the previous year’s level in most branches of industry. Growth in the production of manufacturing was most influenced by the branches holding bigger shares – manufacturing of electronic products where the production increased by more than one and a half times, and manufacturing of wood where the growth was 26%. With respect to the branches of manufacturing holding smaller shares, production increased considerably in the manufacturing of motor vehicles, metals and pharmaceuticals, mainly due to the increase in exports. The rapid growth in production was partly also influenced by the low reference base in 2009; this effect will last until the end of 2010. The production of food, beverages, leather, metal products and other transport equipment, and the production in the repair and installation of machinery and equipment decreased.

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ABB to hire 100 workers in Estonia to meet wind-power demand

In Uncategorized on July 19, 2010 by admin Tagged: , , , , , , , ,

The Estonian unit of ABB, the world’s biggest builder of power grids, plans to increase staff by a tenth as demand for wind power recovers.

Tallinn-based ABB AS, which has more than 900 employees, will hire about 100 more in the coming months to cope with rising production, the company said.

“The markets are gradually recovering, boosting the need for labor,” Bo Henriksson, who heads ABB’s Baltic operations, said in the statement. “This includes the global wind market, which is especially important to us.”

ABB’s plant near Tallinn is the company’s biggest for wind generators globally and one of the largest exporters in Estonia, according to the company website. It cut production by a fifth last year because of a drop in sales.

source: BBN

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Tiny IT-titan Estonia is exporting its e-government technology and expertise across the globe

In Uncategorized on June 30, 2010 by admin Tagged: , , , , , , , , , , , ,

TALLINN — Tiny IT-titan Estonia is exporting its e-government technology and expertise across the globe, currently preparing new projects for the Palestinian territories, Afghanistan and Haiti.

The Baltic state of 1.3 million people has already helped fellow ex-communist democracies Armenia, Georgia and Moldova, plus a total of 40 states, to implement Internet-based government and services common in Estonia for years, but still not widely available elsewhere.

“It’s common to use all kind of Internet-based solutions here in Estonia, everywhere on the level of central government, the level of municipalities and of course business,” Estonia’s Prime Minister Andrus Ansip said recently, as he showed off the oval cabinet table equipped with a shiny new laptop for each minister to a group of foreign journalists.

“The decision-making process thanks to this e-government system is much more transparent. Just a minute or two after the decision-making here, all the people around Estonia or around the world know what happened,” Ansip said.

Using special ID cards, Estonians can access virtually all public services via the Internet at the special site www.eesti.ee, including e-voting in national and local elections, as well as checking their medical and police records with a mouse-click.

Ninety-two percent of Estonian taxpayers filed their 2009 annual income tax returns via the Internet, while 79 percent do their banking online at least once a week, official statistics show.

After the end of five decades of Soviet rule in 1991, the minnow nation opted to go hi-tech as fast as possible and earned the nickname “E-stonia”.

Estonia, which joined the European Union and NATO in 2004, is keen to export its e-government savvy — and associated transparency — around the globe with a special focus on developing democracies.

At the helm is the Tallinn-based e-Governance Academy (www.ega.ee).

Set up in 2002 by the Estonian government, the United Nations Development Programme and the Open Society Institute, it is a a non-governmental, non-profit organisation, focused on the creation and transfer of Estonian knowledge concerning e-governance, e-democracy and the development of civil society.

The Estonian state finances its projects.

The academy recently announced it would help Afghanistan’s parliament create and implement a modern e-voting system and has been involved in bringing e-government to the Palestinian territories.

Since 2008, Estonia has allocated over five million kroons (320,000 euros, 390,000 dollars) for Palestinian projects, introducing IT equipment for central authorities, public e-services for residents as well as e-solutions in the education system and police force.

“We are very grateful for the help Estonia has provided for Palestine. Estonia has been a true success story in this area and we would like to be one day a similar success story in our region,” Palestinian foreign minister Riad al-Malki said during a recent visit to Estonia.

“Estonia’s experience has shown that implementing IT-technology helps to increase the openness of governance and to promote reforms better, and we are just happy when we can share our best practice this way with other states,” Estonian Foreign Minister Urmas Paet told AFP.

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of valuable sales leads to you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!

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Kalev chocolate sold to Norwegians

In Uncategorized on May 4, 2010 by admin Tagged: , , , , , , , , , , , , , ,

One of Estonia’s best-known brands, Kalev, will be sold to Felix Abba that belongs to the Norwegian group Orkla. Under the deal, Orkla will acquire Kalev Chocolate Factory (KCF) and related biscuits and flour mix businesses.

The companies announced that under the agreement, Orkla will take over 100% of the shares in Kalev Chocolate Factory (KCF), including the factory in Jüri. KCF has annual net sales of approximately 28 million euros and close to 400 employees. In addition to KCF, the acquisition includes related biscuits and flour mix businesses in Estonia.

The buyer is Finnish Orkla company Felix Abba and the seller is the holding company Luterma whose majority owner Oliver Kruuda holds 100 percent of the shares of KCF through KCF Valdus OÜ.

The transaction does not involve Luterma companies that operate in other business areas. The parties have agreed not to disclose the transaction amount.

The deal is subject to the approval of the competition authorities in the respective countries.

KCF will be part of the Orkla Foods Fenno-Baltic division, which is Orkla Foods Nordic’s Finnish-Baltic business.

Oliver Kruuda, Member of KCF’s Supervisory Board, said in comment: ”Felix Abba and Orkla is a strategic buyer with the competence and interest to develop the company and the business further”,  says Kruuda.

“This acquisition is an important step in the expansion of our confectionery business, as it gives us good growth and value creation possibilities in the Estonian market and provides a platform for expanding confectionery in Finland and the Baltic region“, says Managing Director Clas Göran Hagström in Orkla Foods Fenno-Baltic.

Felix Abba is  part of the Orkla Foods Fenno-Baltic division, which is part of Orkla Foods Nordic. In addition to Felix Abba, Orkla Foods Fenno-Baltic consists of the Finnish Oy Panda Ab, the Estonian AS Põltsamaa Felix, the Latvian SIA Spilva and the Lithuanian UAB Suslavicius-Felix. In 2009, Orkla Foods Fenno-Baltic had a turnover of 170 million euros and aroud 800 employees. The Orkla group had a turnover of 6.5 billion euros) in 2009.

Kalev was founded more than 200 years ago. In addition, it also owns Maiasmokk, which is the oldest cafeteria and baker shop in the heart of Tallinn Old City.

In addition to Felix Abba, Orkla Foods Fenno-Baltic consists of the Finnish Oy Panda Ab, the Estonian AS Põltsamaa Felix, the Latvian SIA Spilva and the Lithuanian UAB Suslavicius-Felix. In 2009, Orkla Foods Fenno-Baltic had a turnover of 170 million euros and approx. 800 employees. The Orkla group had a turnover of 6.5 billion euros in 2009.

source: balticbusinessnews.com

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