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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 15:19

Lithuania's Concretus buys Latvia's NordBrik

BC, Vilnius/Riga, 02.09.2020.Print version
Concretus Group, a Lithuanian group of concrete production, construction and trade enterprises, has purchase 100% of Latvian company NordBrik, informs LETA/BNS.

The move will allow consolidating the brand's position in the Latvian market, the group said in a statement. NordBrik will be merged with the group's another Latvian company, Betono Mozaika. The merged company will become one of the leading producers of landscaping products in the Latvian market, Concretus Group said.


"The merger of Latvia's Betono Mozaika and NordBrik will consolidate the company's position in Latvia and allow offering a wide range of high-quality products to our clients," Romas Venckus, board chairman of NordBrik and CEO at Lithuania's Betono Mozaika, said in a statement.


Concretus Group also includes Inhus Group, Vilniaus Aidai, Panevezio Gelzbetonis and Betono Centras.


The group posted 122.389 million euros in consolidated revenue last year, up 15% from 2018, and its net profit doubled to 18.956 million euros, according to its financial report filed to the Center of Registers.


The group's shareholders include Vilnios Investicijos, GG Investment and Vilniaus Betonas.






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