Lithuania-based sanitary-household paper company AB Grigeo has entered a share subscription agreement to divest a part of its corrugated cardboard production business to its 100%-owned subsidiary UAB Grigeo Packaging.

The company’s audit committee has approved the transaction proposal, which was submitted by the AB Grigeo president Gintautas Pangonis on 26 October.

The committee opined that the transaction on the basis of the agreement and the Business Acceptance-Transfer Act in exchange for the newly issued shares of UAB Grigeo Packaging is fair and reasoned.

The board of AB Grigeo has made this decision to meet the growing volume of production and sales of corrugated cardboard. It will also allow the efficient management and development of the business.

The business transfer process will be implemented by increasing UAB Grigeo Packaging’s authorised capital. The transaction is expected to close on 2 January.

“The business transfer process will be implemented by increasing UAB Grigeo Packaging’s authorised capital.”

Following the completion of the transaction, both companies will continue their operations from Grigiškės, Vilnius City, the Republic of Lithuania, with AB Grigeo focusing on the production of tissue paper products and UAB on corrugated cardboard production.

Based in Lithuania, the group currently serves Baltic countries through various companies such as Grigeo, AB, Grigeo Klaipėda, AB, Grigeo Baltwood, UAB, Grigeo Recycling, UAB, and Mena Pak, PAT.

The company produces products across various categories, including hygienic papers such as napkins, tissues, paper towels, toilet and cleaning paper, containerboard products, and corrugated cardboard and packaging.

Free Whitepaper How electronic inspection sensors prevented a potentially extremely costly product recall

A pharmaceutical client was at risk of a product recall due to a capping problem with a new tablet formulation. This document explains how DJA Pharma prevented a costly recall with a simple, elegant and effective solution.

Enter your details here to receive your free whitepaper.

Machinery whitepaper

Download our whitepaper

Yes I have read and accept the terms and conditions and privacy policys.


You are in control of the communications you receive from us and you can update your preferences anytime to make sure you are receiving information that matters to you. Please check our Verdict Privacy Policy to see how we protect and manage your submitted data.

You will receive your free whitepaper after you submit the form.

Close