Lyda Lubienė, Lubys' widow, who controls a 50.4-percent stake in Achemos Grupė (38.8 percent directly and 11.6 percent through her minor daughter Viktorija Lubytė), and the group's new management board, which has two foreigners among its five members, go by a philosophy that if a business is loss-making and has little likelihood of becoming profitable, the group does not need it, the weekly writes.
Achemos Grupė Vice-president Audrius Bendaravičius has said that the group does not intend to exit the media industry, but financial analysts predict that the daily Lietuvos Žinios will be the next to go up for sale after Baltijos TV.
It is thought that the group's owners will dispose of other non-core business assets. The most losses in 2011 came from Achema Training Center, at 3.7 million litas (EUR 1.1m), the petroleum and chemical products wholesaler and retailer Metoil, at 1.9 million litas, the engineering services provider Projektų Centras, at 2.5 million litas, the insurer Industrijos Garantas, at 1.7 million litas, and the recreation center Radnycelė, at 1.3 million litas.
Bendaravičius says that this year, they aim to ensure the continuity of the group's businesses and to increase their operating efficiency and profitability. He said that the group is not considering re-registering its operations abroad due to lower taxes.
