As of 22 October 2008, a member of the board and the Managing Director of Latvia’s biggest enterprise – IT wholesale distributor ELKO Group – Jānis Abāšins has resigned from his position due to personal reasons.
The position previously held by Jānis Abāšins has been taken over by his predecessor, Jānis Casno. Mr. Casno has more than 10 years of experience with the ELKO Group. From the period of 2002 to 2007, Jānis Casno was a member of the board and held the position of Executive Director.
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JSC ELKO Group, a leading wholesaler of IT products and components in Eastern Europe and the biggest enterprise in Latvia, has now partnered with the company Palit. Palit is a leading manufacturer of video adapters and their products will now be distributed throughout Russia.
Lukas Wang, the Palit Key Account manager, comments, “Palit – one of the leading manufacturers in VGA segment – is proud to cooperate with ELKO Group – one of the leading distributors of PC components.
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JSC ELKO Group, one of the leading IT product wholesalers in Eastern Europe, CIS and the Baltic States, has confirmed its status as the largest supplier of computer components in Russia. In the second quarter of 2008, sales results in Russia placed ELKO Group in first place among the suppliers of graphic adapters based on AMD/ATI chips. In early 2008, ELKO was awarded the status of “AMD Platinum Solution Provider”.
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This autumn, from September 14th to 17th, the ELKO Group, one of the leading distributors of IT components and solutions in Eastern Europe, assembled together in one place, representing globally leading information technology (IT) manufacturers, developers and distributors in the resort town of Alushta, in the Crimea.
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To increase its working capital, the largest company in Latvia – the IT wholesaler, JSC ELKO Group – extended their credit line to the amount of 127 million US dollars on 1 October.
The first agreement between the ELKO Group and the DnB Nord Bank, on the opening of a 60 million US dollar credit line, was concluded in 2006, to support the company’s rapid development. Already in 2007, the amount of the credit line was increased up to 85 million US dollars.
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ELKO Group, one of the leading IT product wholesalers in Eastern Europe, has become the first official distributor of “Telsey”, globally leading designer and manufacturer of network solutions in Latvia and the Baltics.
Up to now there was no official agent of “Telsey” production in the market of Latvia and it was only offered in some Internet shops.
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Representatives from the world’s leading information technology (IT) developers, manufacturers and retailers will meet in mid-September at one of the largest convents of the IT industry in Eastern Europe, which is organized by the leading wholesaler of IT products and components in the region, the JSC ELKO Group. This year the ELKO Convention will be organized together with the celebration of the company’s 15th year anniversary, as well as the 10th year anniversary of the JSC “ELKO Group” Ukraine office.
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It is for the fourth time now that the editorial board CRN/RE and “СК Пресс” publishing house (see the previous results in № 7/2001 (year 2001), № 15/2003 (2003), and № 17/2006 (2006) have summed up the results of the “Best Russian IT company managers” project, publishing the names of the most successful and effective business managers.
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On 19, 20 and 21 of August, the MSI Notebook Launch Event took place in Lithuania, Latvia and Estonia. During this event, MSI introduced its complete notebook line-up to the dealers and media. The event was organized in cooperation with Elko, MSI’s official notebook distributor in the Baltics.
During the event, MSI showed its Gaming, Entertainment, Aesthetics, Professional and Value notebook series, all with their own unique features.
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One of the leading IT product wholesalers in Eastern Europe and the largest company in Latvia “ELKO Group” worked with a turnover of 555,6 million US dollars in the first half of 2008, which is a 49% increase over the corresponding period in 2007. Furthermore, in the first half of the year “ELKO Group” generated a profit after taxes of 14,8 million US dollars, which is a 136% increase compared to the first half year of 2007. The profitability ratio of the company in the first six months of 2008 was 2,6%.
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In the „6 Hours of Riga” speed boat endurance race that took place on the river Daugava in Riga on Saturday, the team from Latvia’s largest enterprise, Elko Grupa Joint Stock Company „ELKO Racing Team” took the first place in category 3. It means that „ELKO Racing Team” is in the second place in the overall standings of the European Championship.
Fifteen teams from around Europe competed in the six-hour long endurance race for inflatable boats with suspended engines, or RIB-type boats, on 9 August.
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This Saturday, August 9 in Riga on the River Daugava between the Akmens and Vansu bridges the six hour water motor sport endurance race “6 Hours of Riga” will take place. The race is organized for inflatable boats with outboard motor or RIB type boats. This race will be the third and closing round of the speedboat European Championship as well as the Baltic open cup for speedboats in the RIB classes.
The race will be organized as a six hour endurance race – the winning team will be that, which completes the most laps in the given time.
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The leading IT products and components wholesaler in Eastern Europe, Latvia’s largest company ELKO Group JSC is the largest wholesaler of Intel products in Latvia.
ELKO Group JSC has worked with IT products manufacturer Intel since 1996, which makes ELKO Group JSC their longest-lasting business partner in the Baltic States and Latvia.
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Starting this year, ELKO Group JSC, one of the leading IT product wholesalers in Eastern Europe has become the first local wholesaler of „TomTom” navigation devices for the Baltic States market. Collaboration has begun in the second quarter of this year.
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ELKO Group JSC, one of the leading IT product wholesalers in Eastern Europe has signed an agreement with Micro-Star International, thus becoming an official distributor of this manufacturer in the Baltic market. Computer manufacturer Micro-Star International is more commonly known in the world and in the Baltics under MSI brand.
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ELKO Group JSC, the biggest company in Latvia and one of the leading IT product distributor in Eastern Europe, has appeared with company finance figures of 2007 showing significant increase and versatile development.
ELKO Group JSC sales in 2007 have increased by 47% as compared to the previous year – 2006. Such growth was encouraged by aggressive sales strategy in existing markets. Total revenue of the company in 2007 reached 1,085 billion USD.
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In the second half of the year 2007 one of the leading IT product wholesalers in Eastern Europe and the largest company in Latvia JSC „ELKO Group” issued 65 000 bonds with par value of 100 euro each. The issue closed on 26 November 2007 has attracted 6.5 million euro.
The company has issued bonds with the view to increase current assets, thus enabling further financing of the company development and growth.
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Besides its participation in the Riga marathon on May 18th, ELKO Group is embarking on a marathon tour across Eastern Europe. The company has agencies in 14 cities and nine countries, and each member is invited to participate in their city’s marathon.
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On May 14th, fifteen years passed since Latvia’s largest company, IT products and electronics wholesaler ELKO Group JSC, had launched its operation.
„On this anniversary, we can look back at our accomplishments with pride and joy. In fifteen years, ELKO has developed out of a team of several enthusiasts into one of the most influential market participants in all of Eastern Europe. All this, of course, would have been impossible without the goal-driven and perseverant teamwork throughout all these years.
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With the aim to optimise sales processes and improve client service quality in the Baltic countries ELKO Group JSC management has decided to restructure the company’s sales structure in the Baltic market. The changes have been realised for ELKO operations in Latvia and Estonia already last year and from May – the next stage for ELKO business effectiveness and optimisation in the Baltic region will be implemented.
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