Energy, EU – Baltic States, Financial Services, Lithuania, Loan, Transport

In his words, the Nordic banks working in Lithuania limit borrowing.

"We are finalizing acquisition of a group in Lithuania (Litagra grain elevator and production business), we are conducting talks on purchase of two more companies abroad. (…) There are possibilities to attract financing of large European and trans-Atlantic banks to Lithuania for large projects. We are doing the work and I hope one or more banks will emerge shortly," Bendaravicius said Tuesday at Business 2018 conference organized by Verslo Zinios.

He refused to specify any banks, saying Achemos Grupe was looking for alternatives to the Nordic banks over their borrowing limitations.

"Everything is fine with the Nordic banks, however, they have certain limits, they can only provide 150 million euros or so. Our ambitions are bigger, therefore, we want to attract big banks to avoid the limit," said Bendaravicius.

In the CEO's words, the concern intends to not only invest in new acquisitions next year but also make investments in the group's companies, first of all modernize Klaipedos Juru Kroviniu Kompanija (Klaipeda Stevedoring Company, or Klasco).

He said the concern's revenue should grow by about 10% next year, with EBITDA rising 15%.

Achemos Grupe last year netted a profit of 36 million euros last year, down by a factor of 2.4 from 2015, while its revenue from sales fell by 17.2% to 660 million euros.