GRIGISKES

MATERIAL EVENT



RESULT OF ACTIVITY OF AB GRIGISKES IN 2001



In 2001, the total turnover of AB Grigiskes amounted to LTL 62.7 million, which

is by 3% more than in 2000 (LTL 60.9 milion).

In December 2001, sales of AB Grigiskes made up LTL 5.09 million and showed an

increase of 2.8% as compared to the results in December 2000 (LTL 4.95

million).

In 2001, AB Grigiskes earned unaudited net profit of LTL 1.24 million. Whereas

in 2000, the company suffered a  loss of LTL 4.31 million, including a loss of

LTL 1.6 million incurred in December 2000.

According to the Company’s Director General, at the moment the main focus is on

modernization of the company and reform of production. In December, the

workshop for production of boxes of corrugated cardboard was moved from Naujoji

Vilnia to Grigiskes. “Concentration of production in one place will allow us to

reduce expenditures on energy and to cut spending”, says Gintautas Pangonis,

Director General of Grigiskes.

In 2001, the company exported 43.1% of all production (cf. 40.2% in 2000).

Approximately 70% of hardboard are exported to England, Poland, Sweden,

Germany, and other countries in Europe and North America. Nearly half of the

produced toilet paper is sold on the market of Nordic countries.





Gintautas Pangonis

Director General

(22) 333904