Grigiskes AB - Notification on material event

GRIGISKES AB: plans for the year 2011

Vilnius, Lithuania, 2010-12-21 14:59 CET (GLOBE NEWSWIRE) -- The Board meeting
on 21st of December 2010 approved an ambitious budget for the year 2011. 

It is planned that The Group which consists of producing companies Grigiskes
AB, Baltwood UAB, Klaipėdos kartonas AB and Mena Pak OAOin the year 2011 will
reach a turnover of LTL 300 mln. (EUR 86.9 Mio), which is LTL 70 Mio (EUR 20.3
Mio) or 30% over the expected turnover of 2010. The Group profit before taxes
will reach LTL 12 Mio (EUR 3.5 Mio) and will be LTL 4.4 Mio (EUR 1.3 Mio) or
58% higher than it is expected for the year 2010. 

It is also planned that Grigiskes AB sales in 2011 will increase to LTL 145 Mio
(EUR 42 Mio) and will be higher by LTL 18.5 Mio (EUR 5.4 Mio) than it is
expected for the year 2010. The company will earn a profit before taxes of LTL
4.8 Mio (EUR 1.4 Mio) which will be LTL 3.2 Mio (EUR 0.9 Mio) higher than it is
expected for the year 2010. 

In planning the activities for the year 2011 company has evaluated the trends
of 2010 and signs of development of the economy. For the next year the Group
will focus on the sales in export markets of the hygienic paper products,
litliner, fluting and packaging made of corrugated board. 


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