A. Laurinaitis: nationalisation of part of Achema would only benefit L. Lubienė

Arūnas Laurinaitis, a minority shareholder who wants to acquire a controlling stake in the chemical concern "Achema Group", says that even if the state nationalises a part of the group's shares in the factory "Achema Group", it would not help the development of the explosives industry, and the only winner of such a deal would be the current owner of the shares, Lyda Lubienė, the lrt.lt.

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„Achema Group“ can equally contribute to the strengthening of national security and the growth of the defence industry at no cost to the state. On the contrary, it will also contribute to the financing of the state's needs – I already have a plan how to grow the company, increasing its contribution to the budget accordingly“, – A. Laurinaitis, who has complained to the court about the right of first refusal for the acquisition of the controlling stake, told LRT.

The chairman of the Seimas Committee on National Security and Defence (NSDK), Giedrimas Jeglinskas, was the first to mention that part of the shares in the Jonava nitrogen fertiliser plant „Achema“ owned by the group could be nationalised.

Prime Minister Gintautas Paluckas said that if plans are made to include „Achema“ in the chain of explosives production in Lithuania, the option of the state and the plant forming a joint venture with each other is not excluded. 

However, according to the Prime Minister, the Government has not itself submitted or received an offer from the "Achema Group" to acquire part of the company's shares.

„No one else will benefit from the decision to allow her (Lubiene – ELTA) to make a profit at the expense of taxpayers. The reason is very simple: both the explosives industry and any other industry can be developed perfectly well without risking public money. In Lithuania, we already have an excellent example: „Rheinmetall“, whose factory will be used to manufacture weapons, operates perfectly well as a private company“, – A. Laurinaitis told LRT.

It has already been announced that the government is working on a project for a special holding company for defence companies, which could reportedly be based on the state-owned energy group „EPSO-G“.

The group's company „EPSO-G Invest“ is involved in a joint venture with the German military industrial concern „Rheinmetall“ and the Ministry of Finance-controlled „Giraitės zbrojluotės Gamylas Gamylas“, to construct a 155 mm ammunition factory in Radviliškis.

After the plans to acquire a controlling stake in Achema Group were made public by the Hungarian energy company MET Group, Mr Laurinaitis had already filed a lawsuit with the Vilnius Regional Court for the right of first refusal to acquire the said shares.

„Unfortunately, so far, Ms Lubienė has shown that she has no respect for this right of mine or the Lithuanian law that protects it. By trying to sell the shares to the state, Lubienė is also trying to transfer her personal legal problems to the country: the potential buyer of the shares will have to comply with a future court decision and respect my rights," Laurinaitis told LRT.

With the controlling stake in Achema Group (about 52%) held by L. Lubienė, wife of the signatory of the Act of Independence Bronislovas Lubis, and his daughter V. Lubyte, Arūnas Laurinaitis, the former president of Achema Group, has said that he is ready to buy it out for EUR 302.7 million.

A. Laurinaitis and his partners currently own 4.6% of the shares of „Achema Group“. 

The Jonava plant of „Achema“ is the largest producer of nitrogen fertilizers and other industrial chemical products in the country and the largest plant of its kind in the Baltic States.