Last update: 30.11.2024 12:37 (GMT+2)

Grigiskes: Regarding establishment of a joint company

27.05.2003, Grigeo Group, VLN
GRIGISKES
MATERIAL EVENT

REGARDING ESTABLISHMENT OF A JOINT COMPANY

(Unofficial translation done at the NSEL)

On Friday, Grigiškės AB, Lithuania’s leading producer of sanitary paper
products and cardboard, together with Danish wood company DTE (Dansk
Traeemballage A/S) and Danish entrepreneur Pier Nielsen founded joint company
BaltWood UAB.
The shareholders of the new company located in the territory of Grigiškės AB
are: Grigiškės (45 percent), DTE (40 percent) and Pier Nielsen (15 percent).
The new company will offer 60 new work places. Annual plans include processing
of over 100 thousand cubic meters of wood and executing sales for up to LTL 25
million.
BaltWood UAB will also produce EURO trays and wood-wool pallets.


Gintautas Pangonis
Managing Director
(370 5) 243 58 01

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