Construction, Estonia, Good for Business, Lithuania, Transport

Arnoldas Sileika, head of the VLG group, says new opportunities are opening up for the company, allowing it to better-position itself in the European ship repair market.

Minerva, a 198-meter long and 30.5-meter wide container ship belonging to German company Bernhard Schulte Shipmanagement (BSM), will be repaired in Klaipeda and repairs should take two weeks.

Sileika told LETA/BNS in April the company was replacing two of the three smaller floating docks with larger ones as shipping companies are increasingly using bigger vessels.

VLG posted 103.34 mln euros in revenue last year, up 8.6% from a year earlier. Its net profit jumped 35.7% to 9.667 mln euros. The company expects its sales to grow to 121.68 mln euros this year.