Energy, Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 22.05.2025, 06:29

Achema revenues increased due to gas prices in H1 2008

Danuta Pavilenene, BC, Vilnius/Jonava, 11.08.2008.Print version
Over the first six months of 2008, the biggest manufacturer Achema, owned by the concern Achemos Grupe, received the revenues of 1.022 billion litas (303.9 million euros), an increase of 347.8 million litas (103.45 million euros) year-on-year.

According to the company, the revenues increased due to the growth in gas prices and simultaneous increase in the product prices in the international market. Over January-June of 2008, the amount of Achema production grew as well, reports ELTA.

 

"In the Q2 of 2008, the price of the main raw material – natural gas – went up even by 83.4% compared to the same period of 2007, and the price for the gas bought by the company was the highest in the entire Europe," Achema CEO Jonas Sirvydis explains.

 

According to him, in the light of the increasing price of the raw materials, the long-term investment strategy of the company serves its purpose to increase the effectiveness of production. Up to 2009, more than 0.5 billion litas (148 million euros) will be allocated for the modernization of manufactories and the technologies for reducing the usage of raw materials and saving energy resources.





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