NEFCO’s Board of Directors has decided to increase the corporation’s share capital in the Danish-Lithuanian company DGE Baltic Soil and Environment, which specializes in engineering and environmental consulting.
Established in the Lithuanian capital Vilnius in 2005, DGE Baltic Soil and Environment has, among other activities, examined and treated contaminated soil and groundwater at pesticide waste storage sites in Lithuania. Apart from that, the company, which has some 100 employees in Denmark, Sweden and Lithuania, has also done environmental assessments for NEFCO in Russia and Belarus.
Obsolete pesticide waste disposal is still a major environmental problem in Eastern and Central Europe. Besides being a health hazard to both humans and animals, untreated pesticide waste also pollutes soil and groundwater sources. In 2011, DGE Baltic Soil and Environment treated and removed close to 8,900 tonnes of environmentally harmful substances from contaminated sites and watercourses in Lithuania.
NEFCO currently holds 34.7 per cent of the share capital in DGE Baltic Soil and Environment, a subsidiary company of the DGE Group. The capital injection, which will enable DGE Baltic Soil and Environment to expand its operations to neighbouring Latvia and establish an office in Riga, will increase NEFCO’s stake to 36 per cent of the company’s share capital.
The company’s main priority in Latvia will be to examine and assess contaminated soil and groundwater at industrial facilities and other sites, which could pollute the Baltic Sea.