Cemex Latvia changes name to Schwenk Latvija

Following its recent acquisition by Germany-based Schwenk, Cemex Latvia will change its name to Schwenk Latvija, according to reports by the LETA news agency.

Cemex generated a turnover of EUR86.92m in Latvia in 2018, an increase of 11.3 per cent from 2017. Annual profit amounted to EUR5.95m, compared to a loss in the previous year. The company sold over 1Mt of cement in 2018, of which 70 per cent was exported, mostly to Finland, Sweden and Estonia.