The Management of the Societe Anonyme under the name “THRACE PLASTICS HOLDING COMPANY SOCIETE COMMERCIAL ANONYME“ and with the distinctive title “THRACE PLASTICS CO S.A.” (called as “Company” hereafter), in application of the clauses of article 17 with number 596/2014 of the Regulation of the European Parliament and the Council as of 16th April 2014, as well as in accordance with the article 184.108.40.206 of the Regulation of the Athens Exchange, and with the aim to inform the investors’ community on a timely and accurate manner, discloses the following:
Thrace Plastics Group has been active for more than 20 years in the production of non-woven polypropylene fabrics, which are used as raw materials by manufacturers of surgical masks and other protective medical products. This activity takes place in the production facilities of the Group's subsidiaries in Greece and Scotland. It is self-evident that in this period of pandemic that we are going through, the above products have increased demand. In this context, the Group with a high sense of social responsibility has decided that each of the above subsidiaries will give priority to the supply of these products to local manufacturers of surgical masks and other protective medical products in the Greek and UK markets respectively.
Further, utilizing its existing production facilities and infrastructure as well as its strong know-how, the Group made an extraordinary investment of 200 thousand Euros in order to add the required mechanical equipment for the production of Type I, Type II and Type IIR surgical masks.
The purpose of this decision was, on the one hand to take advantage of a profitable business opportunity and, on the other hand, to make a significant social contribution.
The new production line has already been installed in the Group's production facilities in Xanthi and its production capacity is expected to reach approximately 100 thousand masks per day.