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Electronics Production | June 16, 2008

SIA Vermerk closes down in Baltic region

The Latvian-German joint venture SIA Vermerk will close down its Baltic operations this month.

SIA Vermerk is said to close down all operations on June, 30 and will consequently lay off its 100 employees. According to BBN, reasons for the liquidation of the joint venture are reportedly growing production costs and decreasing demand for 'ordinary' lightbulbs.
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