Cement Akmene sales investments

Cement Akmene sales investments
Published: 16 December 2004

Akmenes Cementas, the only producer of cement in Lithuania, plans to invest 14.3 million litas (4.1 million euros) in 2005, twice the amount it invested this year. Arturas Zaremba, the CEO of the manufacturer, told ELTA that the company plans to invest into a new packing unit and one more coal mill. Akmenes Cementas also plans to invest into the recycling of used tyres. It is expected to utilise about 4,000 tonnes of tires in 2005. 

In 2004, the company’s sales should reach 100 million litas (28.9 million euros). Investments should amount to approximately 6.7 million litas (1.9 million euros).  Akmenes Cementas expects its sales in 2005 to grow 5 percent. Fifty-one percent of Akmenes Cementas belongs to four individuals from Lithuania, and one-third of the share portfolio is in the hands of the Mexican company Cemex.