Lietuvos Gelezinkeliai (Lithuanian Railways) carried 34.7 million tons of cargo over the first 10 months of the year, 18 percent more against the same period last year. The company said that it planned to record its highest ever cargo turnover - as much as 40 million tons - since the country's independence. So far this year the majority of shipments are international, which have increased by 27 percent.
The Finnish company Valio said it was returning to the Lithuanian market with a new dairy product, Gefilus, with milk bacteria. The company said it planned to become the market leader in this sector thanks to low prices and extensive consumer market research that showed that Lithuanians cared about their health and were "open to novelties."
In order to reduce production costs, sweet manufacturers Staburadze and Laima announced that they planned to move their operations outside Riga after joining the EU. The total investments needed to create a new modern production unit would be around 10 million lats (15.3 million euros). The companies plan to either attract a strategic investor or to apply for EU structural funds through state support programs. Chairman of the Board Juris Jonaitis, told Dienas Bizness that Staburadze had announced a competition for possible pieces of land for construction of the company's new production facility.
Altia, the Finnish alcohol producer, plans to launch its own vodka on the Estonian market that will target Finnish tourists. The product will be packaged in an easy-to-carry tourist satchel of 10 half-liter bottles of Finland's best-selling vodka Koskenkorva. Once Estonia becomes an EU member, Finnish tourists will be allowed to re-enter their country with 10 liters of strong alcohol.
In order to carry out mandatory port security measures planned by the EU, Riga Free Port will need to invest 3 million lats (4.7 million euros) - 4 million lats. According to port director Leonid Loginov, investments will be needed to ensure the security requirements for freights, passenger circulation and operation of port terminals.
Lithuanian shipyard Vakaru Laivu Statyba (Western Shipbuilding) is investing over 25.3 million litas (7.2 million euros) in installing new technology that will enable the company to prepare metal-sheet profiles and produce parts of wind power towers and ship bodies. "We are sure that progressive technologies will enable us to offer services that meet the needs of our Lithuanian and foreign customers and strengthen the company's competitiveness," said CEO Arnoldas Sileika.