Grigiskes AB - Other information

GRIGISKES AB plans to increase sales and profits in 2014

Vilnius, Lithuania, 2013-12-20 12:54 CET (GLOBE NEWSWIRE) -- As GRIGISKES AB
reported, Group's sales in 2014 are forecasted to grow by 9 percent up to 360
million litas and profit before tax to grow by 49 percent up to 20 million
litas. Company's sales next year will increase by 15 percent up to 170 million
litas, while the profit before tax will amount to 7.5 million litas. 

These objectives will be reached by expanding the Group's sales in the local
and foreign markets. "We believe in our plans, because paper products produced
by GRIGISKES AB under GRITE brand are valued in both markets. These products
are marked by the EU Eco-label Flower, which significantly increases the
attractiveness of the products, facilitates new agreements and ensures greater
consumer accessibility. And more, testlainer and fluting produced by Klaipedos
kartonas AB has become the business card for the corrugated cardboard products
produced and sold in Ukraine." - says GRIGISKES AB president G. Pangonis. "By increasing the sales we have planned profit growth. We will achieve this
through the implementation of energy-saving and energy cost reduction
investment projects. Klaipedos kartonas AB is already testing the equipment,
which will reduce the consumption of the heat energy in production by
one-tenth. In addition, as we have announced in the previous reports a new
biofuel boiler construction in Klaipeda will be completed in February. This
project will be implemented with grant of the Cohesion Fund and from 50 to 100
percent will increase the company's independence from the natural gas price and
its impact. The construction of biofuel boiler in GRIGISKES AB is also already
in progress and is scheduled to be completed in June, 2014. With this boiler
the heat energy needs of rapidly growing manufacture and dwelling heating will
be met at a lower price than with a heat produced from gas" - comments
GRIGISKES AB president G. Pangonis. 


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