Grigiskes AB - Notification on material event

GRIGISKES AB continues the implementation of its investment programme for the year 2011-2013

Vilnius, Lithuania, 2012-05-30 08:05 CEST (GLOBE NEWSWIRE) -- AB GRIGISKES has
successfully completed the first investment stage of 2011-2013 and continues
the implementation of investment programme. As announced in December 2011, the
planned release of the share issue would allow to implement the investment
programme over 2012-2014. However, the company has prepared and is successful
implementing the alternative scenario where the investment programme is
extended over a longer period of time from the company's operating cash flows. 

Having invested 20.5 million litas (5.9 million euro) into the construction of
a new corrugated cardboard production plant, AB GRIGISKES has already started
the development of paper manufacture. The new paper cutting-duplication line
has been installed in the industrial facilities of the company and the sheet
towel production line is being equipped. They will be followed by paper
handkerchiefs production line for regular products and products with aroma.
“Investment in these lines already totals 3.5 million litas (1.0 million euro)
out of 44.9 million litas (EUR 13 million euro) allocated for the development
of paper products. Moreover, a new paper processing line has been ordered and
should be delivered at the end of this year. In the near future we plan to buy
the new tissue paper-making machine No 6”, says general director of AB
GRIGISKES Gintautas Pangonis. 

The paper market is constantly changing, therefore, in the light of customer
needs and the competitive environment, AB GRIGISKES also updates its Grite
brand products. 

“According to the information from AC Nielsen, the share of Grite toilet paper
in the Lithuanian market has increased from 33 to 37.7 percent. Grite share in
the towel segment grew from 7 to 18 percent. In the market of the Baltic
States, the share of Grite toilet paper grew by one percent, from 25 to 26. The
growth in the category of towels was 6.2 percent points, i.e. from 6.5 to 12.7
percent. These facts and the active interest in Grite and GriteProfessional
products in this year's international cleaning industry exhibition ISSA
INTERCLEAN in Amsterdam inspires us for new achievements and challenges“,
G.Pangonis said. 




         Gintautas Pangonis
         General director
         (+370-5) 243 58 01