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ASBIS Group Expands Presence in Baltics, Opens Sales Office in Latvia

May 05, 2008

ASBIS Group Expands Presence in Baltics, Opens Sales Office in Latvia

ASBIS Latvia will supply a wide range of IT products from the world’s leading vendors to the local market.

Limassol (Cyprus), May 5, 2008 -- ASBIS Group, a leading supplier of computer hardware and software to the EMEA emerging markets, has opened a sales office in Latvia. ASBIS Latvia is about to begin supplying a wide range of IT products from the world’s leading vendors to the local market.

SIA ASBIS LV was registered by ASBIS Group’s head company ASBISc Enterprises Plc as its 100% subsidiary. Now ASBIS has offices in all three Baltic countries. Overall, Latvia has become the 25th country where ASBIS has its own sales office. The opening of the Latvian office follows ASBIS’ recent move into Bosnia and Herzegovina where the company acquired local distributor MEGATREND d.o.o. Sarajevo.

ASBIS Latvia office and warehouse is centrally located in the country’s capital Riga. It already has a team of 6 experienced employees. ASBIS has previously supplied its customers from neighbouring offices. The opening of the office in Latvia will enable the Group to offer more convenient logistics solutions and wider product availability to its local customers with the back-up of ASBIS Group’s tested international distribution model. The company will also introduce its private-label products under Canyon and Prestigio brands to the Latvian market.

By Latvian expert estimates, the volume of the country’s PC market in 2007 amounted to around 120-150 thousand units, where notebooks accounted for 40-45% (as compared to 30-35% the year before). In the previous years the market showed 20% growth year-on-year. Latvia has around 2.3 million residents.

The opening of the Latvian office is yet another step in our strategy of expanding our footprint on the Central and Eastern European markets. We want to play an active part in the growth of the Latvian market, which in our opinion has a good potential having increased by around 20 percent in 2007 alone. We will also offer ASBIS’ high-margin private-label products under Prestigio and Canyon brands, strengthening their position in our portfolio”, said Siarhei Kostevitch, ASBIS Group’s CEO.


About ASBIS

ASBISc Enterprises Plc is based in Cyprus and specializes in the distribution of computer hardware components, blocks and peripherals, and a wide range of IT products and digital equipment. Established in 1995, the company has a presence in Central and Eastern Europe, the Baltic States, the former USSR, Middle East, and North Africa.

The Group distributes products of many vendors and manufactures and sells private-label products: Prestigio (LCD monitors, laptops, external storage, leather-coated USB accessories, GPS devices, etc.) and Canyon (MP3 players, networking products and other peripheral devices).

ASBIS has own subsidiaries in 25 countries, more than 900 employees and 20000 customers. The Group’s revenues reached almost US$ 1.4 billion in 2007, the net profit was US$ 18.7 million, and EBITDA was US$ 27.6 million.

The company’s stocks are listed on the Warsaw Stock Exchange since October 2007 under the ticker symbol ASB (ASBIS).

Media contact:
Victor Lukyanov
PR Manager
ASBISc Enterprises Plc
E-mail: Victor.Lukjanov/at/asbis.net

Disclaimer: The information contained in each press release posted on this site was factually accurate on the date it was issued. While these press releases and other materials remain on the Company's website, the Company assumes no duty to update the information to reflect subsequent developments. Consequently, readers of the press releases and other materials should not rely upon the information as current or accurate after their issuance dates.