GRIGIŠKĖS has signed a six million euros loan agreement with Nordea Bank for development of its tissue paper business.
The producer has also completed a €20 million investment project this year during which a new paper manufacturing machine was acquired and installed.
GRIGIŠKĖS company president Gintautas Pangonis said: “This year the manufacturing capacity of tissue paper already amounts to 47,000tpy and we can sell some of it to other paper product manufacturers ourselves.”
The company’s strategy is to create higher added value: “We are already taking the first steps to increase the capacity of processing the paper to end-customer products. We will achieve this by carrying out the next phase of investment to the tissue paper business with the help of the new loan and our own funds.”
Throughout 2016 the company plans to invest more than nine million euros. Pangonis added: “This investment will be used to expand the manufacturing facilities and purchase a new domestic paper products production line which will increase the domestic paper products sales by at least 30%.”