EU – Baltic States, Lithuania, Markets and Companies

Now the Finns plan, among other things, to intensify their operations in Lithuania, including by way of acquisitions of local businesses, so as to become the leader of the Lithuanian market by 2020, the Verslo Zinios business daily reports on Monday.

“The annual turnover of this merged company exceeds 24 million euros and it employs 2,500 people. Just for comparison – several largest Lithuania’s providers of cleaning services generate a combined turnover of 23 million euros. This means that SOL Baltics is bigger than all big names in Lithuania’s cleaning business, taken together,” Elizaveta Blokhnina, CEO of the Lithuanian unit of SOL Baltics, told the daily.

SOL Baltics would seek to become the leader of the Lithuanian cleaning services market by 2020 and was looking for local cleaning companies, which it could acquire so as to increase its market share, she said. Respective talks were under way now, Blokhnina said, adding that SOL Baltics was in particular interested in large-scale companies with customers active in all three countries.