Klaipėdos Kartonas AB, a subsidiary of Grigiškės AB, began a central cardboard paper machine modernization project. Its aim is to double the company's production capacity within 3–5 years. As announced in the 4 June 2015 report of Grigiškės AB and commented on in a meeting with investors on the same day, the strategy of the subsidiary is to complete the project in three phases. Klaipėdos Kartonas AB and Voith Paper S.A., which is owned by Voith GmbH, have signed a new equipment supply contract valued at 9.3 million euro, thus launching the first phase of the paper machine modernization project. “At this stage, the project investment will reach 13.6 million euro. Up until the end of the third quarter of 2016, after the manufacture and installation of your equipment, the current operating speed of the machine and its paper production capacity will increase by 30%. At the same time, this will improve production quality parameters and expand the product range. Due to the growing demand for production, we believe this investment will help the company strengthen its position on international markets”, said Gintautas Pangonis, President of Grigiškės AB and Klaipedos Kartonas AB board chairman.
Voith GmbH is a leading papermaking machine company founded in 1867, with branches in more than 50 countries throughout the world, generating 5.3 billion euro in annual turnover.
This year, Klaipėdos Kartonas AB will also invest in an increase in paper honeycomb production capacity and plans to launch a second honeycomb production core line in October. The investment will total more than 1.4 million euro. It is expected that after the installation of the new paper honeycomb line, its production capacity will increase by almost three times.