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Press release
28th July 2006
SOK has signed an agreement for a second Prisma hypermarket in Riga, Latvia. The new unit will be located at the Riga Plaza Shopping and Entertainment Centre to be built in the city.
The Prisma chain is the market leader in the hypermarket trade in Finland and Tallinn, Estonia’s capital city. Initially, the objective is to open four Prismas in different parts of Riga and in the long term, to become the market leader on this market of close on one million customers.
“The planned Prisma hypermarket at the Plaza will be in the region of 10,000 square metres, and it will provide employment for around 150 people. It will stock some 60,000 products. Prisma’s competitive edges on the Riga market will be its consistently reasonable price level, its wide-ranging assortments and ease of shopping,” says Pekka Sääskilahti, Managing Director of AS Prisma Latvija.
Riga’s first Prisma will open for business in the Domina S hopping Centre at the end of autumn 2006.
In all, the Plaza Centre will comprise more than 65,000 square metres, with the Prisma being the single largest unit. In addition, it will have space for more than 160 speciality stores and parking for more than 1,600 vehicles. The Shopping Centre is due to open in 2008.
The S Group has around 28,000 employees and in 2005, the Group’s sales in Finland and abroad came to EUR 8.6 billion. The value of sales by SOK’s Baltic companies in 2005 rose to exceed EUR 200 million. SOK currently imports and retails Peugeot vehicles in Latvia (AS Lauva Auto). SOK’s Baltic companies have more than 1,000 employees on their payrolls.
For further information, please contact:
Pekka Sääskilahti, Managing Director, As Prisma Latvija
tel. +371 28 632 266, pekka.saaskilahti@sok.fi
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