AB Mazeikiu Nafta informs about continued restructuring of the Company and registration of two new subsidiaries in line with the established strategy of the Company. The newly established subsidiaries will assume from AB Mazeikiu Nafta the non-core business activities of the Company, i.e. the activities not related to the petroleum products refining business.  

On 2 March 2009, the Register of Legal Entities registered UAB “EMAS”, the company headquartered at Juodeikiai, LT-89467, Mažeikiai district, the Republic of Lithuania, with its authorized capital being equal to 5,200,000 Litas, and UAB “Remonto Mechanikos Centras”, headquartered at Juodeikiai, LT-89467, Mažeikiai district, the Republic of Lithuania, with the authorized capital amounting to 6,200,000 Litas.

AB Mazeikiu Nafta is the sole incorporator and shareholder of UAB “EMAS” and UAB “Remonto Mechanikos Centras”. The newly issued shares have been paid for by AB Mazeikiu Nafta in the form of cash contributions.

The primary purpose of UAB “EMAS” is provision of the services of installation and maintenance of electrical equipment, while UAB “Remonto Mechanikos Cechas” will be engaged in the provision of the services of installation and maintenance of mechanical equipment as well as other associated services. 

In the course of restructuring AB Mazeikiu Nafta has already established two subsidiaries. One of the subsidiaries is engaged in indoor and outdoor cleaning and landscaping as well as other associated services (UAB “Paslaugos Tau”), while the purpose of other subsidiary (UAB Mazeikiu Nafta Health care Center) is provision of health care services.