The decision to withdraw from the Latvian market follows the introduction of a new group strategy. The market potential in Latvia is declining, according to the company, and Cowi will instead increase focus on other markets with sufficient potential to support its strategy.
SIA Cowi Latvia has been sold to the present management. SIA Baltkonsults will be the new owner of the company named SIA Infrades, and Jolanta Güza will continue as managing director.
Cowi has been operating in Latvia for almost 18 years. In order to be able to continue doing business in Latvia on specific projects, Cowi has signed a cooperation agreement with SIA Baltkonsults.