OREANDA-NEWS. Implementing the investment program GRIGISKES AB and TOSCOTEC S.p.A. signed a contract for a new paper manufacturing machine design, supply and installation. 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 LTL 53 Mio (EUR15.3 Mio), of which LTL 35 Mio (EUR 10.1 Mio) will be financed by bank loan." - recalls G. Pangonis, president of the company.

As it is already announced, GRIGISKES AB 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. It is hoped that the growing sales figures of the group of companies will reach LTL 500 Mio (EUR 145 Mio).