STOCKHOLM, Sweden, March 11, 2002 (PRIMEZONE) -- Intrum Justitia, one of Europe's leading receivables management services groups, is setting up operations in the Latvian capitol of Riga.
Latvian clients will now have access to an international network offering a complete range of receivables management services that span the entire receivables cycle - from the initial invoice until payment for goods received or services rendered has been received.
"With the new office, we now have offices in 21 European countries," says Peter Sjunnesson, Intrum Justitia's CEO. "Stable economic growth will continue in Latvia, as will the market for Intrum Justitia's solutions in the area we call Receivables Management Services, which includes ledger services, debt collection, and purchased debt."
"Our international clients are increasingly demanding multi-country solutions," continues Peter Sjunnesson, "and the new office in Riga completes our Baltic network."
"Intrum Justitia's operations in Estonia and Lithuania have evolved rapidly, says Thomas Feodoroff, MD for Intrum Justitia in Finland and responsible for operations in the region. With the Latvian office, we are now the only company able to offer receivables management services in all of the Baltic countries,"
"In 1990, Latvia became the first of the Baltic states to open the debt collection market since gaining independence from Russia," added Thomas Feodoroff. "Demand for our services exists, and I am confident that Intrum Justitia can quickly establish a market-leading position there."
With the Latvian acquisition, Intrum Justitia Group now has operations in 21 European countries, turnover in excess of SEK 2.3bn, and 2,400 employees. Aivars Jurcans has been appointed Managing Director for Intrum Justitia Latvia.
Intrum Justitia is one of Europe's leading receivables management services group. The group has a revenue of over SEK 2.3 billion and has about 2,400 employees in 21 European countries. Intrum Justitia offers efficient high quality management of commercial and consumer receivables in all phases. Intrum Justitia has a growth strategy and aims to take active part in consolidating its industry. In May 2001, Intrum Justitia acquired Dun & Bradstreet's European receivables management operations. For more information, please visit www.intrum.com
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