Grigiskes - Notification on material event

GRIGISKES AB intends to change its name

Vilnius, Lithuania, 2015-09-28 13:16 CEST (GLOBE NEWSWIRE) -- Pursuing its
vision to become recognized in Europe, for the last couple of years the
companies of AB GRIGIŠKĖS group concentrated on growing export turnovers.
During the first half of this year the company's overall export turnover of
tissue paper and packaging products increased by more than a fifth, i.e. 22
percent, and even by 63 percent since 2013. The company implements its
development plans by investing into equipment modernization and intends to
change its name to “Grigeo”. 

According to the president of AB GRIGIŠKĖS, the company consistently
reorganized its business and continues to develop. “Step by step we became a
group of companies that covers the entire production cycle: from waste-paper
collection and recycling, to delivering products to the end user. We also
manufacture fibreboards. Recently the company has become a serious paper and
wood industry player not only in Lithuania but also in foreign markets,
therefore the change of the name and further development is a natural growth
phase”, says G. Pangonis. 

On September 28, 2015 the boards of AB GRIGIŠKĖS group companies voted and
suggested to shareholders to change the names of the companies. The
shareholders will make decisions on October 13-14. According to the plan, for
the next one and a half year current names of the group companies and the new
“Grigeo” name will be used together and from spring 2017 the companies will
present themselves under the new name. 


         Gintautas Pangonis
         President of GRIGISKES AB
         (+370-5) 243 58 01