ArtTek Baltia expands business with Industra Bank financing
Industra Bank has provided financing in the amount of 550 thousand euros to tile and plumbing wholesaler SIA "ArtTek Baltia" for the purchase of real estate in Riga, Ganību dambis 26, which will allow the company to develop a new business direction – rent of commercial premises.
ArtTek Baltia is known as one of the largest suppliers of ceramic and porcelain tiles, glass (glass shower cabins) and stone mosaics in Latvia. The company has more than 40 suppliers - the best Spanish and Polish tile and plumbing factories. Cooperation without intermediaries allows ArtTek Baltia to offer only the best and newest tile collections of leading manufacturers at attractive prices on the Latvian market.
Raivis Kakānis, chairman of the board of Industra Bank, emphasizes: "We are active in the industrial premises financing market, and ArtTek Baltia is one of the companies in this segment, which we help to implement their plans with our financing. This will allow ArtTek Baltia to diversify its business, creating new business premises for other entrepreneurs. Besides, the company's planned investments in building improvements mean that Riga will become richer for another renewed and modern building."
After the completion of the deal, ArtTek Baltia plans to increase the energy efficiency of the building, which will also include insulation, replacement of windows and installation of solar panels, thus making both visual and functional improvements.