VILNIUS, Lithuania, Sept. 29, 2016 (Globe Newswire) -AB Grigeo Klaipėdos Kartonas, in cooperation with Voith GmbH owned by Voith Paper S.A., successfully completed the 1st stage of modernisation of cardboard paper production machine (hereinafter the PM3 paper machine) and made a decisive step towards the implementation of the strategic plan which, through the modernisation of the PM3 paper machine in three stages, will enable the company to double its production capacity in about 3-5 years.
The project included full renovation of the paper formation part, modernisation of drivers, upgrade of the process piping, modernisation of the dryer part and installation of the new generation automated and control system of all production line. This stage of modernisation allows to increase the quality parameters of products, to expand their range and to boost the operating speed and production volumes of the machine by as much as 30%. It also improves the work environment and microclimate for employees. The project is valued at 17 million euro.
The investment allows to secure the stable leadership position in the paper industry of the Baltic region and strengthen the company on international markets.
AB Grigeo Klaipėdos Kartonas started the year 2016 with successful implementation of the investment project of the new honeycomb core production line. The new line allows to expand the production capacity by 2.5 times. The project value is 1.5 million euro.
Voith GmbH is the world’s leading paper production machine company founded in 1867, with branches in more than 50 countries and the annual turnover of 5.3 billion euro.
AB Grigeo Klaipėdos Kartonas was founded in 1898. It is one of the oldest companies in Lithuania, with the history closely linked to the Lithuanian business history. The company makes raw material for production of corrugated cardboard – testliner (used for outer plies of corrugated board) and fluting (liner for corrugated boards). In addition to its main activities, AB Grigeo Klaipėdos Kartonas makes cardboard honeycomb core used in furniture, automotive industry, production of doors and packaging. Every year, the company expands its activities and gains the leading positions in the paper industry of the Baltic region.