Uģis Magonis continues as Chairman of the Board of SJSC Latvijas dzelzceļš for a second term | Latvijas dzelzceļš

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Uģis Magonis continues as Chairman of the Board of SJSC Latvijas dzelzceļš for a second term

Monday, 1 September, 2008

For the forthcoming three years the duties of Chairman of the Board of SJSC Latvijas dzelzceļš will continue the existing Chairman of the Board Uģis Magonis. Along with Uģis Magonis the work in the Board of Directors will continue the existing Members of the Board Aivars Strakšas and Andris Šteinbriks. Deputy Chairman of the Board Uldis Pētersons discontinues work in the Board of Directors, as he has decided to retire.

Currently the Board of Directors consists of three persons, because Uldis Pētersons has resigned from the duties of the Member of the Board.

Uģis Magonis, Chairman of the Board of SJSC Latvijas dzelzceļš, says: “In the last three years we have put much work in the performance and development of the company. Last year has been a very successful year, when we reached good results in economic and financial activities. The Board of Directors of LDz has to continue with the reforms launched for railway modernization and strengthen competitiveness in dynamically growing transportation market.”

In 2007 Concern Latvijas dzelzceļš made record profit – 28.29 million lats and reached 262.5 million lats net turnover. The profit of concern grew tenfold compared to 2006, but net turnover – by 28.6%. SJSC Latvijas dzelzceļš has kept its leading position in transportation market of Baltic States` railways; it takes up 41% of this market.

Prepared by:
Public Relations Division
Phone: +371 6723 4909
Fax: +371 6723 2605
Email: pr@ldz.lv

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