Concretus Materials Seeks 51% of Cemex Lithuanian Associate: BNSBryan Bradley
UAB Concretus Materials is seeking regulatory approval to buy a majority of the Lithuanian cement maker Akmenes Cementas AB that is one-third owned by Cemex SAB of Mexico, Baltic News Service reported.
Concretus Materials, a Lithuanian company established in September, submitted a request for permission to acquire as much as 51 percent of Akmenes Cementas on Dec. 27, the newswire said today, citing the Competition Council in Vilnius.
Akmenes Cementas plans by mid-2013 to complete expansion and modernization projects worth 350 million litai ($134 million), according to BNS. In 2011, it produced 984,000 tons of cement, of which 55 percent was sold in Lithuania, BNS said.