The Daugavpils manufacturer of drive chains JSC "Ditton pievadķēžu rūpnīca" has been declared insolvent, according to information from the Insolvency Register.
The Latgale District Court declared the enterprise insolvent on Monday, January 12. The deadline for creditors to file claims is February 13.
The court appointed Gundega Kreice as the insolvency administrator.
As of January 7 of this year, "Ditton pievadķēžu rūpnīca" had a tax debt of 162,881 euros.
On October 7, 2025, a process for the legal protection of the enterprise was initiated in the Latgale District Court, but on December 17, the case was closed as the legal protection plan was not supported by the majority of creditors, as required by insolvency law.
According to "Firmas.lv", the enterprise has four securities.
In 2024, the turnover of "Ditton Pievadķēžu rūpnīca" amounted to 3.264 million euros, which is 1% less than in 2023, while the company's losses decreased by 2.6 times to 660,204 euros, reports "Firmas.lv".
In the annual report of the company's management, it is stated that during 2024, the company continued to implement a loss minimization program by optimizing its internal structure, infrastructure, intellectual and human resources. "Ditton" saw opportunities for growth in concentrating production on technologically complex products with high added value, as well as in activating the growth of services and works outside the core production.
The largest shareholders of the chain manufacturing plant "Ditton" are Vladislav Driksne, who passed away in 2021, 14.94%, SIA "MAX Invest Holding" - 13.63%, SIA "Maleks S" - 13.56%, SIA "Dvinsk MNG" - 9.46%, Marina Zavadskaya - 6.67%, Karolina Maria Zavadskaya - 6.67%, Eduard Zavadsky (deceased in 2016) - 6.67%, Marina Driksne - 4.98%.
