In May, the name of Grigeo AB is planned to be changed to Grigeo Group AB. The company will retain centralized supervision and control of the Group's financial accounting and business analytics, personnel management, legal services, IT supervision, procurement, and other service functions of the Group's companies.
This decision was made to ensure more efficient management and development of the businesses of the Grigeo Group AB. It is planned to divide the Group's activities by forming a new tissue paper segment in addition to the existing packaging and fiberboard segments.
The current tissue paper business is being transferred to its subsidiary, Grigeo Tissue UAB as a bundle of assets, rights, and liabilities. It will be managed together with the tissue mill in Poland, which was acquired on March 28 of this year.
Hygienic paper production in Lithuania will continue to be carried out in Grigiškės, and the employees working there will not be affected by the structural changes. They will retain their seniority, holidays, and other benefits from their employer.
The changes will also affect Grigeo Investicijų Valdymas UAB, which is changing its name to Grigeo Paper Packaging UAB.
Grigeo AB is one of the largest paper and wood industry groups in the Baltic States.
