Grigeo Group AB announces that it has decided to invest more than EUR 106 million in expanding its tissue paper production capacity in Lithuania and Poland.
The project involves the installation of a new generation double-width paper machine to increase annual production capacity up to 140 thousand tons, the installation of two automated paper base conversion lines in Lithuania, and the installation of one automated paper base conversion line in Poland.
Over EUR 97 million will be invested in the modernization and expansion of Grigeo Tissue's UAB production facilities in Grigiškes, and EUR 9 million will be invested in the expansion of the Grigeo Tissue sp. z o.o.'s production facilities in Poland. The investment loan of EUR 55.2 million for business development in Lithuania was provided by SEB bank AB, while Santander Bank Polska provided EUR 6.5 million in investment financing in Poland. EUR 44.3 million will be invested by Grigeo Group AB.
Once the project is implemented, it is planned to create up to 80 new jobs in Lithuania and Poland.
It is the largest investment project in the history of the Grigeo Group AB.
A press release is attached to the notice.
Tomas Jozonis
Chief Executive Officer
+370 5 243 58 01
