Luminor bank granted funding to the manufacturer of large size plastic products SIA Rotons to the amount of EUR 350,000. The loan is intended for the expansion of the manufacturing facility of the company and the purchase of powerful rotational moulding device.
Latvian company SIA Rotons specialises in the manufacturing of plastic tanks, septic tanks, biological purification devices, sewerage pump stations, as well as pontoons, plank bridges and raft constructions. Rotons is the only company in Latvia that uses rotational moulding technology for the serial manufacturing of its products. SIA Rotons exports 60% of the manufactured products and its main export market is Sweden. The products of the company are also exported to Estonia, Lithuania, Germany, Romania, Russia, Georgia and other counties.
“It is our objective to support local companies and promote the development of economy, therefore we are happy to support Latvian company Rotons, which is capable to manufacture and offer on the market specific and individually tailored plastic products as well. We are confident that the funding granted for the development of manufacturing at the company and the purchases of manufacturing equipment will help SIA Rotons to become even more competitive,”
– Ilze Zoltnere, Head of the Corporate Department of Luminor in Latvia, says.
Armands Mucenieks, the Chairman of the Board of SIA Rotons: “Rotons was founded with the idea of producing large-size plastic tanks and other products for the needs of the domestic market, since transportation thereof is commonly associated with high costs. Over a period of more than ten years, we have learned to work in the manner that allowed us to become exporters ourselves and our sales volume will exceed EUR 3 million this year.
In order to continue the development of manufacturing process, we need to expand our production premises, therefore we have decided to construct a new hangar, which is specifically intended for the manufacturing of sewerage pump stations and large size tanks. We plan to install technical equipment that will considerably relieve manual work and improve productivity there. After the construction of the new hangar, the total area of our production premises will exceed 2,500 m2. Both company funds and bank loan are used to fund this project and the total amount of investments reaches EUR 540 000.”
SIA Rotons, which was founded in 2006, is a manufacturing company specialising in the manufacturing of large size plastic products. The company offers: products manufactured according to individual projects (sewerage pump stations, flow meter and gate wells, tanks for superficial and underground installation); serial products (private house water meter connection wells with heat insulation, septic tanks, biological purification equipment, as well as other plastic products); development of new product design in 3D software environment. Since 2013, the company has introduced ISO9001 quality control system.
SIA Rotons is a member of Ādaži Association of Businesses, Latvian Chamber of Commerce and Industry, German-Baltic Chamber of Commerce, Federation of Security and Defence Industries of Latvia, and Nordic Association of Rotational Moulders (Nordic ARM).
Luminor is the third-largest provider of financial services in the Baltics, with some 900 000 clients, 2500 employees, and a market share of 15.6% in deposits and 17.6% in lending as at the end of June 2020. Luminor has total shareholders’ equity of 1.6 billion EUR and it is capitalised with a CET1 ratio of 22.0%.