Promateris to Foray into Paper Packaging Segment
The Romanian packaging company seeks to keep on investing in biomaterials which will cement its position as a key player in the Central and Eastern Europe (CEE) region and increase its production capacity for bio-based and compostable packaging.
Romania-based packaging producer Promateris is all set to enter into the paper packaging segment in 2022 with a new production facility. The startup of the production facility is slated to be finalised in 2023.
Moreover, the company is also intending to commence the production of biodegradable and compostable raw materials that are based on corn starch in 2022. This development will make Promateris the first company in Eastern Europe to produce raw materials based on corn starch, according to the press release of the company.
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In this year itself, the Romanian company also plans to continue investing in biomaterials in a bid to cement its position as a leader in Central and Eastern Europe (CEE) while also expanding its production capacity for bio-based and compostable packaging.
In 2021, the demand for biodegradable and compostable packaging produced by the company in the Buftea factory had doubled. Consequently, the company recorded a 66 percent annual increase in turnover for the first nine months of the year to EURO 27.5 million (USD 31.1 million).
“During the last three years, we have made investments of over EURO 10 million in the development of biodegradable and compostable packaging and the recycling of bioplastic. Promateris is on an accelerated growth trend, and we will continue to invest in the company’s development in order to improve performance, both by increasing the production capacity and by digitalising our workflows,” Promateris CEO Tudor Georgescu said.
In 2021, the group had seen a 36 percent increase in biodegradable and compostable packaging segment production. Now, it plans to increase production in this segment by 40 percent this year.