Watch here for opportunities which will appear on this page as and when they are identified . Vil S. Vaitas, P.E. and Associates can provide facilitation, representation and other services as it is described under each listing.
Gold and Silver horde is up for sale
The Bank of Lithuania had been trying to sell its horde of 20.7 kilograms of gold scrap and gold products and 152.9 kilogram silver scrap and silver products. This horde is part of the precious metal purchases by the bank in 1991 as a hedge against then raging inflation. Two auctions were held this year without success. Only two buyers registered for the first auction but neither one showed up for inspection or submitted bids. The second auction, with the horde broken up into small lots, held this July 4th, resulted in sale of only 31.31 grams of poorest quality (.333) gold for 370 litas (about $125 U.S.) Currently there are no plans to conduct another auction. Decision on further action regarding this horde will be made later this year. Also, it is anticipated that another horde consisting of almost 27 thousand of jewelry items, acquired by the bank in 1990 with the funds donated by citizens to the "Blockade Fund", will be placed on the market in the near future.
ALCOHOLIC PRODUCTS COMPANIES
Four state-owned and run alcoholic beverage companies are due to be privatized in mid-2003. They are 83.77% government owned "Alita", 91.95% government owned "Stumbras", 82.27% government owned "Vilniaus Dektine" and 72.93% government owned "Anyksciu Vynas". The government has placed the value of these companies as at least 172million Litas (approx.46.44 million U.S. $'s at current rate of exchange)
Total year 2000 sales volume and profits of these companies were:
| COMPANY | SALES ($'s U.S.) | PROFIT ( $'s U.S.) |
| AB " Alita" | 17,994,000 | 1,300,250 |
| AB "Stumbras" | 28,029,750 | 5,777,750 |
| AB "Vilniaus Dektine" | 7,829.250 | 745,250 |
| AB "Anyksciu Vynas" | 15,330,750 | (293,000) |
FURNITURE FACTORY
Joint stock company “ Panevezio Baldai”, manufacturer of office and household furniture is looking for investor to improve the company’s financial position, to assist in reorganizing the company and restructuring of its current debt. For the fiscal year 2000 the company reported 6,981,000 litas, or $1,745,250(US), in sales. Average employment level was 241. Company’s assets at the end of year 2000 were valued at 10,519,000 litas, or $2,629,750(US).
YEAR-AROUND RESORT
A small town, population of 12,000, in the environmentally pristine rural area of Northwestern Lithuania is interested in developing a year-round resort hotel/conference center with golf, tennis, swimming, sailing. canoeing, skating, skiing, casino and other recreation facilities. The town is less than an hour's drive over excellent roads from the port of Klaipeda, the Baltic Sea beaches and the major industrial town of Mazeikiai. Major roads connect it with the towns and cities in the neighboring Latvia. A number of tourist attractions are located in the surrounding area.
Adequate undeveloped land adjacent to river and a lake formed by a dam is available for constructing hotel, casino and the recreational facilities. Plenty of local labor at base rates is also readily available as the this area's unemployment rate is one of the highest in the country.
Full support for such a project, including casino, has been expressed by the local government.
At present there are no such complete Western style resort facilities in Lithuania or the other Baltic states.
For additional information contact Vil S. Vaitas, P.E. and Associates by sending e-mail to: vaitas@vaitasassociates.com . Only established operators or developers of such facilities in the U.S. or overseas will be considered by the local authorities. Vil S. Vaitas, P.E. and Associates can provide full intermediary and supporting services to serious investor. E-mail inquiries to: vaitas@vaitasassociates.com .
FISH FARM WITH PROCESSING FACILITIES
The current Lithuanian investor is interested in selling his controlling interest (73.7%) in a stock company operating a working fresh water fish farm. Company’s assets include 740 hectare (1,832 acre) stream-fed reservoir and complete processing, packaging and canning facilities valued at 2 million litas ($500,000). Current annual production is 100 tons (metric), which is marketed and sold within domestic market. Production can be increased to 550 metric tons annually by expanding the domestic or foreign markets through increased marketing efforts.
For additional information contact Vil S. Vaitas, P.E. and Associates send e-mail to: vaitas@vaitasassociates.com . Vil S. Vaitas, P.E. and Associates can provide full intermediary and supporting services to serious investor. Asking price for these controlling shares is $150,000.