Grigeo CEO: wastewater could be released into Curonian Lagoon due to breakdown

Wastewater could be released into the Curonian Lagoon due to a breakdown, not intentionally, Gintautas Pangonis, president and major shareholder at Lithuanian paper and wood industry group Grigeo, says.

"As far as I know, there was a breakdown and this is why it happened. It's a certain one-time breakdown, as far as I know," Pangonis told LNK Zinios (LNK News) on Tuesday.

His comments came after Klaipeda prosecutors launched in investigation into pollution in Lithuania's seaport. Grigeo Klaipeda, Grigeo's subsidiary operating in Klaipeda, is suspected to have caused it.

Prosecutors say the damage done to nature could be valued at "tens of millions" of euros.

The Nasdaq Vilnius Stock Exchange on Tuesday suspected trading in Grigeo shares.