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Lithuania’s Grigiskes signs agreement for paper manufacturing machine design
BC, Vilnius, 02.07.2013.
Print version
Print versionImplementing the investment program, Lithuania-based wood processing company Grigiskes and Toscotec S.p.A. signed a contract for a new paper manufacturing machine design, supply and installation, reports Grigiskes to LETA.
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Under this contract, Toscotec S.p.A. undertook obligations to deliver and install equipment and to start the production of paper till the end of the year 2014. "It is planned that the investment in the new paper manufacturing machine will reach 53 million litas, of which 35 million litas will be financed by the bank loan," said Pangonis, the president of the company.
As it has already been announced, Grigiskes plans that at the end of 2014 when it has implemented the investment program, sales of the company's products will double in the following two years.
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