Akmenes looks at expansion possibilities

Akmenes looks at expansion possibilities
30 December 2005


Akmenes Cementas, Lithuania’s only cement manufacturer, is considering building a new production lin e costing around Euro 70m.

Moreover, Mexico’s Cemex, the leading global cement producer and the indirect owner of almost 40 per cent of Akmenes Cementas, is reportedly eager to raise the holding in the Lithuanian company to 100 per cent.

Akmenes Cementas believes that Cemex would also make a contribution towards the building of new line despite the intentions ofCemex to also arrange a new line at its Latvia’s plant in Broceni.

The intentions to acquire up to 100 percent of Akmenes Cementas were revealed by Cemex itself, a company spokeman noted. "I have no doubts and the inference I drew from conversations with Cemex representatives is that the concern would like to become the sole owner of our company," he said.

Published under Cement News