January 27, 2015 9:16 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Viru Keemia Grupp AS

Company Overview

Viru Keemia Grupp AS manufactures and markets shale oil and chemicals in Estonia. Its products include shale fuel oils, bitumen, coke, phenols and phenol products, specialty chemicals, alkylresorcinols, resins for wood and plywood industry, and other products. The company also engages in the repair and servicing of processing units; fabrication of metal goods and constructions; lifting and repair of lifting devices; design, assembly, and servicing of control systems for automation systems and production processes, including software engineering; building and repairing heat, water, sewerage, and gas distribution networks; and painting of vehicles and facilities. In addition, it offers motor t...

14 Järveküla tee

Kohtla-Järve,  30328

Estonia

Founded in 1921

Phone:

372 33 24200

Fax:

372 33 75044

Key Executives for Viru Keemia Grupp AS

Vice Chairman of The Board and Financial Director
Head of Public Relations Department and CSR Manager
Technical Director and Director
Administrative Director
R&D Manager and Director
Compensation as of Fiscal Year 2014.

Viru Keemia Grupp AS Key Developments

Viru Keemia Group Opens Second Shale Oil Plant

Viru Keemia Group opened its second modern shale oil plant, Petroter 2. The plant cost EUR 65 million and is part of a EUR 150 million investment into energy by the company. A total of 100 direct and 400 indirect jobs have been created in Ida-Viru County and the state will rake in EUR 14 million a year in tax once the plant is fully operational, in a few weeks.

Viru Keemia Grupp Announces Plans for New Plants

Viru Keemia Grupp announced that in 2014 the second Petroter plant will be opened and in 2016 the third one will open. The three plants will more than double the company's present production capacity. In 2014 a fractionation column will be replaced. Preparations for the project lasted for several years and in 2013-2014 about EUR 3 million will be invested into it.

Viru Keemia Grupp Announces Unaudited Earnings Results for the Year 2013; Announces Operating Results for 2013; Provides Production Guidance for the Year 2014

Viru Keemia Grupp announced unaudited earnings results for the year 2013. For the year, the company reported that net profit declined by 44.2% to EUR 19.4 million in 2013 while sales revenue increased by 2.2 % to EUR 220.4 million. The production output of the Ojamaa mine totaled 2.8 million tons of oil shale in 2013. For 2014, the company plans to mine 3.1 million tons and process 2.8 million tons of oil shale.

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