Lithuania-based Grigiskes completes €5.9M corrugated packaging facility that can produce about 80 million sq. meters of products per year, aims to sell at least 1.5 times more packaging products in 2012 than year before
Sandy Yang
VILNIUS, Lithuania
,
May 28, 2012
(press release)
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In November 2010 GRIGIŠKES AB management decided to attract own capital for the investment of future projects, and it was decided to invest part of the attracted funds to the production of corrugated cardboard packaging. In the beginning of 2011, the company approved the construction project of corrugated cardboard manufacturing plant, and raised an ambitious goal - to implement the project within one year. A total of 20.5 million LTL (5.9 million EUR) was allocated to the project.
The project was completed within the stipulated time, and a new factory building was built. The new corrugated board manufacturing unit and the new corrugated cardboard packaging production lines were equipped in the new department. They will produce a much broader range of packages and a variety of custom corrugated products. Before the beginning of 2012, using old equipment, GRIGISKES AB could only produce up to 15 million sq. m of 4 mm thick ("C" type) corrugated cardboard and its products. However, since the second quarter of 2012, the new plant can produce 1.5 to 4 mm thick ("C", "B", "E" types) corrugated cardboard and it items. From now on, buyers are offered much wider range of products: not only standard boxes, but also packaging made by flat or rotary cutting of different thicknesses of corrugated cardboard with 4 colours of prints. "The new corrugated cardboard production unit can produce about 80 million sq. m of products per year," said GRIGISKES AB General Director Gintautas Pangonis.
"According to preliminary estimates, considering the adjustments of initial investment projects, the investment in this project amounted to about 20.5 million LTL (5.9 million EUR). This project strengthened our position in the corrugated cardboard market, and we also strive to create greater added value to our customers and better meet their needs. We hope that after starting the manufacture with new facilities, we will sell at least 1.5 times more packaging of products in 2012 than in the last year," G. Pangonis says.
GRIGISKES AB is the only company in Lithuania and in the Baltic countries, having a complete cycle of corrugated paperboard production in its group of companies - from the collection of raw materials (i.e., waste paper) to the manufacture of final products for consumers.
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