2015 09 01
This year, after completing its largest investment project, worth 20 million euro, which covered the purchase and installation of a new paper production machine, and after consideration of market prospects, GRIGIŠKĖS AB does not intend to take a break, and has continued to invest in the expansion of capacity.
To this end, GRIGIŠKĖS AB and Nordea Bank AB signed a 6 million euro loan agreement on 28 September 2015 for the development of the tissue paper business.
“This year, the production capacity of tissue paper base already accounts for 47,000 tonnes per year and we can sell part of it to other paper product manufacturers. However, the strategy of GRIGIŠKĖS AB is to generate higher added value, therefore, the sale of this paper base is a temporary solution. We are now taking the first steps towards increasing our capacity for manufacturing products made from paper base for end users. This will be accomplished with the help of the new loan, which, together with our own funds, will allow us to carry out our new investment stage in the tissue paper business. Plus, in 2016, the company plans to invest over 9 million euro. This investment will be used for the expansion of manufacturing facilities and the acquisition of a new production line for household paper products, which will increase the sales of household products by at least 30%”, said Gintautas Pangonis, the president of the company.