Financial Management Pieno žvaigždės

Financial management Pieno žvaigždės.

Started working for "Mažeikių pieninė" in 1972. In 1989, I was appointed to the position of the company’s CEO and assumed liability for the company’s future.

20th March 1998. The first meeting of the company shareholders, with participation of Mr. V. Jankauskas (CEO) and JSC "Pasvalio sūriai" Board members, took place in Mažeikiai.

15th October 1998. Another shareholder meeting took place, which approved the merger and finally approved the by-laws of the new company. 

23rd December 1998. JSC "Pieno žvaigždės", the company established after the reorganisation, was registered at Vilnius City registry service.

Before the merger,  JSC "Mažeikių pieninė"  was producing a wide range of milk products and dry milk powder, yet it was mostly famous for its butter. However, they were not producing rennet cheese, thus in 1997 they bought a bankrupted company "Tauragės pieninė", and renewed  rennet cheese production  there. (Later it merged with "Pasvalio sūriai", and in 2001 was sold to JSC "Vilkyškių pieninė").

In 1997, the seventh year when Lithuania was working under market conditions, in the times of peaking capital concentration processes, JSC "Mažeikių pieninė"  (at that time it was among top 5 milk processing companies) also started looking for the partners to merge with. 

At the shareholders meeting the Board was authorised to make all necessary decisions with regard to the reorganisation. 

JSC "Pieno žvaigždės"  started its operations with the following subsidiaries: "Pasvalio sūrinė" and "Mažeikių pieninė" with Skuodas, Akmenė and Tauragė production facilities. 

1st January 1999. Commencement of de jure operation of JSC "Pieno žvaigždės". 

Eventually, in the process of discussions on further expansion possibilities, the then independently working company JSC "Kauno pienas"  joined us. Negotiations with Mr. Zenonas Pošys, the then CEO of "Kauno pienas", went smoothly and on the 1st December 2000 the third company joined our constellation. 

From the very beginning, "Pieno žvaigždės" has been working successfully and steadily, growing, and investing a lot. Success hasn’t come all by itself – this is the result of concentration and sincere work of all of us. They have achieved good results thanks to our persistence and belief that what they are doing is right, beneficial and meaningful. And there’s another good quality that should be mentioned – a continuous strive for self-improvement. They make mistakes but they are not afraid of them, they continuously study and improve ourselves. They have gained the acceleration, and no one can stop us now! Today they are a MIGHTY POWER!"

In the first picture you can see current liquidity ratios of 2012 – 2014 period. On the first years the ratio was 1.128 and later on by 2013 it increased to 1.408. It rises up sharply by 24.8% comparing to 2012 ratio.

From the trend line we can see that Ratio likely will go down by 2015 years.

On the first years the ratio was 0.037 and later on by 2013 it goes a little bit down to 0.021 (23.9%). comparing to 2012 ratio.