LUG opens a trade office in Dubai

LUG decided to open a trade office in the United Arab Emirates. It’s the third office starting up in 2011. Earlier the company opened offices in London and Paris.

- „The year 2011 is a very good period for the whole LUG S.A. capital group. Our expansion gains momentum. We open trade offices and posts in the markets where we already have an established position and we are deeply convinced of the success of these operations. That’s how it was with offices in London and Paris. And that’s how it is with the trade office in the Ayman Free Zone in Dubai.” – says Ryszard Wtorkowski, CEO of LUG S.A.

The decision regarding opening the office and appointing a proxy who will carry out all formalities which will allow to establish a trade post in the United Arab Emirates was made on September 27th during the Special Shareholder’s Meeting of LUG Light Factory, subsidiary of the Issuer.

- „The next point on our business development map is South America. It will be a new market for us. The negotiations are still on so I cannot reveal any details.” – adds Ryszard Wtorkowski.

New foreign offices will help in increasing the share of export in the LUG S.A. capital group’s income up to 60 percent in the next year.