“The main production of UAB “Normetas” consists of metalstructures for overhead power lines, transformer substations, powerdistribution stations, and 35-380 kV high-voltage metal supports, various inputcabinets, all of these structures are hot-dip galvanized.”
Despite the social democratic plans (A, B and C), fervently
supported by conservatives, to protect us from all adversity, the news for this
company is quite sad:
“The bankrupt Ukmergė metal processing company “Normetas” is
laying off all 40 employees, the Employment Service reported.
On January 13, Vilnius Regional Court granted the request of
the company’s manager Vytautas Vyšniauskas and filed a bankruptcy case against
“Normetas”. The court ruling entered into force on January 22, the Employment
Service told BNS.
“The defendant’s (“Normetos” – BNS) liabilities to creditors
exceed the value of its assets. Due to a significant decrease in orders,
production and sales volumes, a lack of working capital and the inability to
finance current activities, the defendant was forced to lay off employees. The
defendant does not conduct economic and commercial activities, does not receive
income, and has no financial capacity to restore solvency and avoid
bankruptcy,” the ruling reads.
The company’s payables and other liabilities amount to
almost 1.8 million euros, the ruling reads.
The company, which has been operating for over 30 years, had
a turnover of 2.8 million euros last year – 21.7% more than in 2023 (2.3
million euros), and it suffered a loss of 3,700 euros – 60 times less (224,000
euros).
The employees will be laid off in February, and the largest
number of people who will lose their jobs will be metalworking machine
adjusters and operators (21) and welders (7), the Employment Service said in a
comment to BNS.
The ultimate beneficiary of the company is Tadas
Vyšniauskas, and its shares are owned by 35 natural persons.”
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