On Monday, September 14, “Skinest Group” in Riga signed an agreement on the acquisition of the assets of the bankrupt Latvian cosmetics and perfumery manufacturer “Dzintars”. Production was stopped almost a year ago, but is scheduled to resume in October, restoring many jobs.
“Our only goal is to save the legendary brand, resume production and turn Amber into a success story again. Historically, large industrial companies have been the backbone of the economy, and their success is important to any country, both pragmatically and emotionally,” Skinest commented. Group “owner Oleg Osinovsky.
The company that bought Dzintara’s assets – SIA Ritrem – is part of the Skinest Group, and its parent company is Daugavpils Locomotive Repair Plant, which employs more than 600 people in Latvia.
“We have considerable experience not only in maintaining industrial companies, but also in successfully managing them. This, in turn, means hundreds of jobs and millions of tax revenues for the state,” Osinovsky said.
Skinest Group sees great potential in Dzintara’s past activities in both research and development and manufacturing. “People both in Latvia and elsewhere are waiting for the return of Dzintara, and it will happen, there is no doubt about it. We have enough capital to ensure that the company receives all the investments necessary for its development,” Osinovskis emphasized.
Representatives of the “Skinest Group” emphasize that it is the largest industrial group in the Baltic States, which includes more than 50 companies in 15 countries. The group has invested more than 40 million euros and created more than 800 jobs in Latvia. The group is engaged in the production of railway wagons and locomotives, as well as railway construction. The group owns the largest number of railway wagons and locomotives in the Baltic States, builds wind and solar energy parks, hydroelectric power plants, residential buildings, golf courses and participates in many other projects.
It has already been reported that the assets of the insolvent cosmetics and perfumery producer JSC “Dzintars” will be bought by the Estonian millionaire Oleg Osinovsky for 5.5 million euros, TV3’s program “Nekā personīga” reported on Sunday.
The first auction in March, in which the “Amber” building on Mālu Street and the starting price of the factory were less than seven million, ended without result. The administrator claims that he did not hold the second auction because there was a risk that the assets could be purchased at a reduced possible price. Therefore, three bidders have been given the opportunity to submit their bid by opening an account with a bank and paying their purchase amount.
According to “Nothing personally”, the highest price in the amount of 5.5 million euros was paid by the Daugavpils company “Ritrem” in August. Last year, this micro-enterprise with a small share capital did not make any payments of personal income tax or mandatory state social insurance contributions. The sole owner of Ritrem is Daugavpils Locomotive Repair Plant, and its real beneficiary is Estonian millionaire Osinovskis.
At least for now, the intellectual property – the “Amber” trademarks – belongs to Gerchikov. They were registered by Gerchikov in his own name and are currently the subject of legal proceedings.