Thrace Plastics Pack: New 25.5 million euro investment program

Thrace Plastics Co SA in the context of the accurate, valid and timely information of the investor community announces an extraordinary investment plan, which was approved by the Board of Directors. It should be noted that the Management, taking into consideration the broader market conditions as well as the strong cash position of the Group, decided the immediate implementation of the above extraordinary investment program, which is an incremental investment compared to the current investment plan of 2021, or any other additional investment plan potentially approved at a later time.

The new investment plan is oriented towards the Sustainable & Profitable Development of the Group, with a focus on the following strategic pillars: further reduction of production costs and boost of competitiveness, improvement of profit margins, vertical integration of production processes, with parallel emphasis on the circular economy and finally, further reduction of its environmental footprint.

The individual actions of the new investment plan that will be implemented at the Group's facilities in Xanthi, Greece, are summarized as follows:

investment in mechanical fiber production equipment: fiber is a basic raw material for the production of non-woven Needle Punch fabrics. Needle Punch fabrics aim at a variety of applications in the sectors of infrastructure and construction, agriculture, automotive, etc.

investment in mechanical recycling equipment in order to increase the recycling capacity with regard to finished products or plastic waste, both from internal production and operating processes as well as from third party sources. This action is in line with the commitment of the Group calling on the one hand for the...

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