Akmenes Cementas, the sole Lithuania’s cement manufacturer, reported LTL281.6m (EUR 81.6m) in sales for full year 2008, up 14 per cent from the YoY figure of LTL247.1m.
However, the company sees its sales declining by about one-third this year due to economic downturn.
"The market is full of uncertainty, the volumes ordered have dropped by some 25-30 per cent. In 2009 he sales are seen declining by 30 per cent," Richardas Sudaris, Akmenes Cementas’ spokesman, told BNS.
The company sold 1.066Mt of cement last year.
"Investments are being made in line with the plan and the project will be completed in 2011, just as planned...These investments, which will make the manufacturing process more energy efficient and reduce the cost price, are necessary if we want to survive," he said.
In 2007, Akmenes Cementas launched an approximately LTL300m worth of upgrade projects.