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Lithuania's Bulk Cargo Terminal seeks control of Gargzd Railway co

BC, Vilnius, 17.10.2016.Print version
Biriu Kroviniu Terminalas (Bulk Cargo Terminal, or BKT) loading fertilizers manufactured by Belarusian fertilizer producer Belaruskali seeks to take over control of the industrial railway company Gargzdu Gelezinkelis (Gargzdai Railway), reports LETA/BNS.

Last week, the Competition Council received the BKT request to purchase 94.25% of the railway company's shares and thus gain sole control of Gargzdu Gelezinkelis.


Gargzdu Gelezinkelis said on its website it currently had 18 locomotives, a 700 sq. m repairs workshop in Gargzdai and a 4.6 km railway stretch. The company is also engaged in railway construction, repairs and maintenance.


According to information provided by the Center of Registers, Gargzdu Gelezinkelis is owned by 14 physical entities, with the largest stake owned by the company's CEO Arunas Griksas (47.65%) and Gintautas Lukauskas (45.9%). The company last year posted a revenue of 2.178 mln euros, down by 7.6% year-on-year, while the net profit declined by 14.1%  to 93,200 euros.

BKT's net profit dropped by 15.4% to 9.507 mln euros last year on a revenue of 25.703 mln euros, down by 9.1% y-o-y.


The terminal handled a total of 7.08 mln tons of bulk fertilizers in 2015, down from 7.2 mln tons in the year before, including 87.7% loaded onto ships and 12.3% to containers.

The bulk of the terminal's revenue is generated by orders of the related company, Ferteksos Transportas (Ferteksa Transport), with Belaruskali fertilizers accounting for 96% of all handled cargo.


Igoris  Udovickis  holds a 70% stake in the company, while the remaining 30% is owned by Belaruskali.






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