History

JSC AVESTIS was established on 10th of June 2005. For the realisation of the investment projects in Lithuania and abroad it gathered greatest professionals in finance, real estate development and investment management who, at this moment, form the Board of AVESTIS.

The first investors were SC Hanner and joint Lithuanian-American Company Sanitex. The first joint project - acquisition of the controlling stake in SC Klaipedos kartonas - has led to further successful cooperation.

Realised projects

Together with the partners we established General Financing in December 2005. It supplies consumer loans for natural persons. Traditionally we acquire and own active companies however General Financing was established and grown from the very beginning. It was gathered most experienced specialists in retail banking and financial leasing. In two years the company expanded its market network to 350 stands located in various trade centers and Lithuanian Post offices. General Financing became one of the biggest non-banking consumer financing companies in Lithuania, successfully competing with commercial banks. During our ownership a credit portfolio increased from EUR 0,4 million in 2006 to EUR 37,3 million in 2008. In August 2008 it was sold to Societe Generale – one of the largest financial services groups in the world.   


Klaipėdos kartonas, the Baltic’s leading producer of the recycled containerboard paper, was acquired in November 2005 and it was sold to a strategic investor in November 2007. During our ownership,  the revenues of the company increased 3 times and its activities were expanded to Urkaine - in 2006 Mena Pak, a producer of cardboard packaging, was acquired. .


During our ownership Mena Pak production capacities increased 5 times because of the start of the production modernisation by investing to a new corrugator, new box-making equipment, and the construction of modern production workshop.


2005 © Avestis
Konstitucijos Ave 7, LT-09308, Vilnius, Lithuania, ph. +370 5 2487217, fax. +370 5 2487218, info@avestis.com