5^th of August 2016 Company Register of Republic of Latvia registered a subsidiary company of JSC «Riga electric machine building works» - «RER-Terminals» LTD, registration Nr. 40203010535, with share capital of 1 140 000 EUR and main business activity – materials and raw materials purchase and sale.

The sole founder of the newly established subsidiary company - JSC «Riga electric machine building works»  made property investment in the share capital of  «RER-Terminals» LTD, which consisted from the land plot and buildings located on it, including production unit buildings which were no longer used in production process.

Market value of property invested is 1 140 000 EUR.

Establishment of the subsidiary company will not have any influence on commercial activity and financial results of JSC «Riga electric machine building works»