Thrace Group New Investment Plan of a total amount of € 10 mil. in Packaging Business in Greece
Thrace Plastics Co SA (hereafter “Company”) hereby announces to the investor’s community, within the content of the correct, valid and timely information, in accordance with article 17, par. 1, of 596/2014 EU Regulation, the immediate implementation
THRACE PLASTICS CO S.A.
Thrace Plastics Co SA (hereafter “Company”) hereby announces to the investor’s community, within the content of the correct, valid and timely information, in accordance with article 17, par. 1, of 596/2014 EU Regulation, the immediate implementation of a new extended unplanned investment program of €10 mil., for the Packaging Business Unit, which will take place in Greece, through its subsidiary Thrace Plastics Pack ABEE.
The new investment program is oriented towards the Sustainable Development, focusing on the further increase of the production capacity in the specific subsidiary of the Group, as well as in the Packaging Business Unit in general, targeting: (a) to support the Greek clientele in a more efficient, direct and complete manner, with an even more complete product portfolio, and (b) to further develop of exports business and the subsequent enhancement of Group’s business extroversion.
The specific categories of the new investment plan with immediate implementation by the specific subsidiary, are summarized as follows:
- Investment in Injection Molding Production Machines for the production of plastic containers, which is the main technology for production of plastic containers, targeting the food sector, the hotels / restaurants industries and the paints industry,
- Investment in Thermoforming technology, for the production of small plastic containers, targeting the food sector and in specific the dairy market,
- Investment in Paper Packaging Production Machinery, to produce paper packaging products, supplementary to the existing product portfolio for the catering sector.
The new investment plan, which will reach an amount of €10 mil. approximately, is in accordance with the sustainable development practices and will contribute to an environmental footprint decrease, while the new machines are expected to be fully operational within the first half of 2024. Based on this timeplan, it is estimated that the new investments will increase the production capacity of the subsidiary by 4.000 tonnes approximately, on an annual basis. The new investment plan will be financed both with own funds and external financing.
For any further information, the shareholders may contact the Investor Relations Department of the Company (at +30 210 9875081, e-mail: [email protected]).