Government supports Liepajas Metalurgs sale plans

The Latvian government has supported a sale strategy for the troubled metallurgical company Liepajas Metalurgs.

Finance Minister Andris Vilks confirmed an official sale could be organized in the spring whilst it's hoped the company could resume production in the summer.

Vilks added that the company is still attracting interest from international investors in Europe and Russia.

Meanwhile, Liepajas Metalurgs insolvency administrator Haralds Velmers pointed out that he has called a meeting of creditors on Feb. 21, where he intends to make a request to extend the company's sale deadline by another six months - until Aug. 21.