Lithuania: Finnish-owned Lithuanian recycling services company Kuusakoski saw its revenues grow by 21% year-on-year to Euro32.5m in 2014. Its annual profit doubled to approximately Euro0.29m.
The company's performance has improved amid changes in the scrap metal purchase market, in particular the bankruptcy of Liepajas Metalurgs in 2013 and the exit of one more company from the Lithuanian market in 2014, Paulius Juska, according to Kuusakoski CEO Verslo Zinios. In 2015, Kuusakoski expects the waste tyre collection business to fuel its growth.
"We hope that Akmenes Cementas will resume burning waste tyres at its cement plant this year. If that is the case, we could supply tyres to the facility. It would enable us to increase the quantities of tyres that we collect and to generate more revenues from car service centres for the collection of old tyres and their supply to the disposal facility," said Juska.
