The acquisition of Serbian PET flake producer ALWAG will help the firm to achieve a circular economy and enter the recyclable material business
Austria-based packaging company Greiner has its first recycling plant to enable in-house recycling.
The acquisition of Serbian PET flake producer ALWAG will help the firm to achieve a circular economy and enter the recyclable material business.
The business will change its name to Greiner Recycling d.o.o. and will operate as a distinct division directly under Greiner Packaging International.
It will continue to focus on recycling PET and other materials which are used as flakes for the production of packaging.
The purchase will help Greiner to broaden the scope of its business strategy across the value chain and expand into the reprocessing of recyclables.
According to the firm, some recycled materials, which were previously required to be purchased from outside vendors, will now be made on-site.
The group will be able to steadily increase the life cycles of its goods by expanding its knowledge base in the recycling industry.
Greiner AG CEO Axel Kühner said: “Greiner has set itself ambitious targets as far as sustainability is concerned.
“With the first recycling plant in the company’s history, we intend to increase the amount of recycled material used to manufacture our products.
“That represents an important step on the journey toward a sustainable circular economy at Greiner.”
Greiner said that the regular amounts of recycled material will continue to be delivered to current ALWAG customers.
The firm plans to increase the site’s capacity to make sure that it can support future Greiner Packaging production as well as clients from around Europe.
The output of recycled materials is expected to increase from its current level, or roughly 4,000 metric tonnes annually, to as much as 7,000 during the upcoming years.
Investing in the infrastructure and gaining ISO certifications will be the initial steps, said the company.