The turnover of Akmenes Cementas, the only cement manufacturer in Lithuania, reached 45.9 million litas (13.3 million euros) during the first six months of this year, 28.9 percent higher than turnover in the corresponding period last year (35.6 million litas / 10.3 million euros). "The increase in profit is due to growing sales in the domestic and foreign markets," Arturas Zaremba, the head of Akmenes Cementas, told ELTA news sources.
According to him, especially high growth was felt in Lithuania due to the expansion of the construction market. The company sales in the domestic market made up about 65 percent of entire turnover. The company exports part of its production to Latvia, Kaliningrad, and Finland. Competition in the cement market increased after Lithuania’s accession into the EU and the liquidation of cement customs, which forced cement manufacturers to lower their prices. The company controls about 75 percent of nation’s cement market.