Displaying items by tag: Akmenes Cementas

Lithuania: Akmenes Cementas’ revenue rose by 18.9% year-on-year to Euro67.3m in 2018 from Euro56.6m in 2017. Its cement sales increased by 12% to 1.17Mt from 1.04Mt, according to the Baltic News Service. However, it made a continued to make a loss. The cement producer blamed this on mounting energy and staff costs.

Lithuania: The Bega cement terminal has won a ‘Product of Lithuania’ award from the government. Minister of Economy Virginijus Sinkevičius and the President of the Lithuanian Confederation of Industrialists (LPK) Robert Dargis presented a medal to Laimonas Rimkus, the general manager of Bega, according to the Vakarų Ekspresas newspaper. The joint venture with local cement producer Akmenes Cementas was commissioned in early 2018. The terminal plans to increase its exports of cement to 0.35Mt/yr by 2020.

Lithuania: Akmenes Cementas, Lithuania’s only cement producer, has announced that it expects improved cement sales in 2018 compared to 2017 and hopes to halve its annual loss.

The company suffered a net loss of Euro5.5m in 107, 21.7% lower than a Euro7.0m loss in 2016. Turnover in 2017 grew by 11% to Euro56.7m. The company sold 1.04Mt of cement, 4% more than in 2016.
In 2017 Akmenes sold 58% of its produce to the local market. It exported 35% to other EU countries and 7% to Belarus. The company hopes to increase cement sales and to halve its losses.