A Latvian family establishes wholesale company SIA MAGMA to bring the best available mixer taps to the market. A FORD TRANSIT van is the company’s point of sale and office, and the first order is 98 mixer taps from Italy.
The company begins to rent commercial space of 100m2 at 2 Katrinas Street, the company’s staff increases to four.
The company starts using an accounting program, turnover in the second year of operation increases several times.
The company buys pre-renovated warehousing facility in Riga, 18a Katrīnas Dambis Street, and construction of showroom-store gets under way.
The company purchases workbenches and equipment for manufacture of flexible hoses. SIA MAGMA starts to make flexible hoses from materials shipped from Italy – stainless steel (AISI 304) tubes and EPDM rubber that is suitable for portable water. Assembly parts are made of brass (CW 617N).
On November 18, the Independence Day of Latvia, the company’s 400 m2 showroom opens and offices are moved to 18 Katrīnas Dambis Street. The MAGMA trademark is registered.
The company sells mixer taps of different brands popular in Europe and Asia, shipped from more than 13 countries. The company now has an extensive catalog of sanitary products.
MAGMA in Pētersala expands to 5,614 m2. The company begins looking for partners in Estonia.
The company commences exports to Estonia.
The company enters new business areas, assembles mixer taps using parts from different manufacturers, thinking through and testing each new product. Mixer taps are assembled pursuant to the LVS EN – 817:2008 standard, verified by SIA Inženierekspertīžu Сentrs (Engineering Assessment Center) of Latvia University of Agriculture. The mixer taps are now in ECO packaging that dissolves after use. Customers are offered civil liability insurance.
The company begins shipping products to Lithuania.
Creditreform rates SIA MAGMA as a credible and reliable cooperation partner. The State Revenue Service regularly honors the company as an exemplary taxpayer contributing to the economic development of Latvia.
The company participates several international fairs, commences export of mixer taps.
The company begins developing the first shower to be assembled in Latvia, employs more than 30 industry professionals. The company supplies products to 450 regular customers – stores that specialize in sale of plumbing and household goods, assembly companies. The company adopts a quality management system to ensure swift communication with customers and quality customer service.