As one of the largest companies operating in the paper and wood sector in the Baltic countries, the AB Grigeo Group of Companies (hereinafter referred to as “the Group”) acknowledges, understands and realises responsibility for the impact of its activities on the social, economic, and natural environment.
Our Code of Business Ethics lays out our values and business standards upon which we base the spirit of our business and which we follow when establishing and maintaining relationships with customers, partners, supplyers and governmental institutions as well as when we communicate internally.
The Code of Business Ethics applies to all the employees of the Group as well as the members of the management and supervisory bodies of the companies that comprise the Group.
We believe that each employee of the Group and each member of the management and supervisory bodies of the companies of the Group in his/her everyday activities will follow the values and standards set out in this Code of Business Ethics and that the provisions of this Code will not conflict with their personal beliefs and values.
This Code of Business Ethics is not a confidential document. Its provisions can be made known to customers, suppliers, partners, creditors, and other parties.


When creating and manufacturing, we always think of our employees, customers, partners, and colleagues, what is important to them and how we can improve their environment.
The activities of our employees are harmonious with the mission and goals of the Group.

THE MISSION OF THE GROUP: To create and manufacture environmentally friendly products while improving living standards.

THE VISION OF THE GROUP: To be Europe’s recognised manufacturer.


Our values are based on the company’s long history and business experience. We create a motivating company culture, so how we behave and the principles our business is based on are important to us. Our core values inspire our employees and involve them in seeking higher goals in their everyday activities and in their efforts to create a successful company.

  •  Determination

We believe that we will rise only when we want to fly, so our main driver is our determination and it allows us to seek new heights in our professions and in business. We are ambitious and brave and it is important to us how high we can ascend.
We are confident that the assets that we have obtained and position that we have reached is not all that we can achieve. We are open to innovation and to initiatives to change and we like improving and growing with the company.

  •  Responsibility 360°

Responsibility 360° equals all-round responsibility in all: to customers and consumers; to managers, subordinates, and colleagues; to society and the community; and to ourselves.

We are reliable; we can and do find the best timely solutions in any kind of situations, we fulfil our promises, and meet our challenges.

The principles of our business dealings are based on openness, transparency, fairness, and trust

  •  Professionalism

We constantly aspire to be the best in our own field, which takes us to the highest levels of professionalism. This aspiration, which represents a great challenge, enables us not only to perform our everyday work irreproachably, but also to improve continuously, to gain knowledge, to grow, and to teach others who work beside us.

We understand professionalism as the ability to fulfil set goals by far and the ability to challenge ourselves – to exceed the expectations not only of our managers and customers, but also our own.

We enjoy what we do, which enables us to be the best in our field.

  •  Team spirit

We are a team and believe that we can only achieve the best results together.

We are very similar yet very different. Active cooperation allows us to better understand each other. We know that the strength of a united team is harmonious thought and action.

We trust our colleagues and understand that others can only assume responsibility if we trust them.

We value and cherish the ideas of our colleagues and respect their individuality. Project, social, and public works are very important to us as they allow us to grow and improve as well as to strengthen the spirit of a united team.


Transparency, fairness, and the intolerance of corruption

Our relations with our employees, customers, partners, and the state are based on fairness and transparency. We believe that fair partnerships allow us to create long-lasting and meaningful relationships.
We operate our business transparently and fairly, obey the laws of the Republic of Lithuania, pay established taxes, settle with employees in a transparent manner, and encourage other market players to operate transparently as well. No payments or other expenses are allowed without being officially documented.
We resolutely oppose any form of corruption, bribery, or graft.
In the course of our activities, we never provide, offer, or promise to give any unjustified remuneration to any persons in order to influence such persons either directly or indirectly in the performance of their duties and decision making. Our employees do not accept any gifts or bribes that are intended either directly or indirectly to influence the decisions or actions of the Group’s employees.
In order to ensure the transparency and objectiveness of our cooperation with our suppliers, we do not accept any commercial proposals that raise suspicions in respect to their lawfulness. We openly present our established requirements and evaluation criteria to potential partners and define the terms of our cooperation in contracts. The business processes in the Group are clearly regulated by previously-approved clear and transparent procedures.

We ensure the transparency and objectiveness of our selection of suppliers by carrying out our procurements in accordance with the procurement procedure of the company’s management system, which defines clear criteria for the selection of suppliers and their evaluation, criteria which include: the price of the product or service, the quality, and the delivery and payment terms.

Respect for human rights and freedoms

We respect and ensure human rights and freedoms as defined in the Universal Declaration of Human Rights adopted by the United Nations General Assembly, the Convention for the Protection of Human Rights and Fundamental Freedoms adopted by the European Council, the Conventions of the International Labour Organisation, and legal acts of the Republic of Lithuania.
We acknowledge the right of a child to be protected from economic exploitation and from any labour, which may be detrimental to his health or impede his learning, may harm his health and his physical, mental, spiritual, moral and social development. We do not use the labour of children below the age of 16 years. We also do not work with any suppliers or sub-suppliers who use the labour of children below the age of 16 years and immediately terminate any cooperation with suppliers or sub-suppliers if it turns out that they use the labour of children below the age of 16 years. We do not employ any persons whose age is below the minimum age prescribed in the laws of the Republic of Lithuania as the age when a person acquires the capacity to enter into a labour contract and legal capacity. Any persons at the age between 16 and 18 years may be employed only in strict compliance with laws.
We do not use forced or mandatory labour.
We respect the right of employees to unite, form or join associations, including the right to establish and join trade unions for the protection of their interests. Employees have the right to freely conduct collective negotiations. Those employees who exercise these rights may not be discriminated against, intimidated, or harassed.
We strictly oppose any discrimination, or instruction to discriminate either direct or indirect on the grounds of sex, race, nationality, language, origin, social status, belief, convictions or views, age, sexual orientation, disability, ethnicity, or religion.
We apply equal selection criteria and employment terms and provide equal working conditions and guarantees to all persons irrespective of the person’s sex, race, religion, nationality, language, origin, citizenship, social status, beliefs, family, age, sexual orientation, political views, disability or health.
We do not tolerate any harassment, abuse or exploitation in respect to our employees. We do not tolerate any antisocial behaviour that compromises or has the intent of compromising another’s personal dignity on the grounds of the sex of that person. Nor do we tolerate the creation of – or the intent of creating – a terrifying, hostile, insulting or humiliating work environment.

The Group does not use, does not support, and does not allow the use of any physical punishments, violence or any other form of psychological or physical coercion and it does not apply any system of public warnings or punishments.

The avoidance of conflicts of interest

The members of the supervisory and management bodies and employees of the Group should avoid situations where their personal interests conflict or may conflict with the interests of the Group.

The members of the supervisory and management bodies and employees of the Group may not confuse with their own the company’s property, the use whereof has not been specifically discussed with such a person. Such a person may not use any property or information acquired as a member of a body or an employee of the company for any activities which, according to the laws of the Republic of Lithuania, are illegal, or for personal gain or for the gain of third parties.


The employee, during both working and non-working time, will respect and protect confidential information of the companies of the Group that he may have received or become aware of during the course of his work. He will not use such information for personal gain or for the gain of other persons.


Employees can report infringements as well as post questions and complaints related to this Code of Business Ethics to their direct supervisors, the Personnel Manager, the Head of the Company, or drop such comments into special boxes installed on the premises of the company.
The management of each company of the Group is responsible for the implementation of the provisions of this Code, for the censure and the prompt and honest correction of actions that are not in compliance with the provisions of this Code.
The Group supports employees who honestly adhere to the provisions of the Code and encourages others to adhere to them. Any non-compliance with the provisions of this Code shall not be tolerated and shall be reported.