Estonian Talot restructures

Estonian Talot, which focuses on the production of concrete and prefabricated concrete products for building industries, has managed to win orders to sustain the company through the autumn of 2009.

The company is currently under restructure because of lacking funds to reimburse bank loans taken and tax arrears, understood to total more than Euros 93,000.

CEO Igor Geller said the company was forced to capitalise to approximately Euros 640,000 in an effort to reimburse part of the loan issued by Sampo Pank.

However, Talot is also understood to be dissatisfied with an SEB Pank move to auction off 22% of the shares Kolle has in Talot, while Kolle is also under restructure.

Geller said Talot has retained a strong growth outlook.