Cemex turnover up 34 percent in Latvia

Cemex turnover up 34 percent in Latvia

Published at: 2018-08-08 12:41 | Author: CIJ Baltics
Building material producer Cemex has reported a turnover of €78 million in Latvia in 2017, up 34 percent on 2016. And while the company failed to make a profit last year, it succeeded in reducing losses by 71 percent to €4 million through improved sales. Cemex sold 970,000 tons of cement last year with exports to Sweden and Finland rising 70 percent. Robust growth in the domestic Latvian market also aided in the improved results. However, as a result of sanctions, exports to Russia fell in 2017. The main reason behind the continued losses was the interest and depreciation on its €300 million spent on building a new cement plant in Broceni, western Latvia. The new plant allowed CEDEM to double its annual output to 1.6 million tons.

Similar Stories:

Spider Group opens new tea factory in €3.7m investment
The Spider Group will open new a tea production facility in the Rakita business zone in Kl  »
Amphenol Automotive Technology opens new car plant in Serbia
The American based Amphenol Automotive Technology has opened a new plant in Trstenik. The  »
B Spring opens new plant in Bosnia
Bosnia & Herzegovina  ♦  B Spring opens new plant in Bosnia
B Spring opened a new production plant in southwest Bosnia. The plant is located in the Br  »
AMM opens factory at MIND industrial park in central Serbia
AMM Manufacturing opened its first factory at the MIND industrial park near Kragujevac, ce  »
How does Bucharest’s investment market compare to Prague’s? There’s little compari   »
How much are you lending on infrastructure projects in Slovakia? How does it compare to ot   »
Should we believe people in the market when they say they’re working on five to six deal   »
Going into 2016, most observers assumed Czech retail assets would be a major investment ta   »