“We plan to build a new plant in Crevedia, which will allow us to double production capacity and diversify our product portfolio by adding products with a low environmental impact, some of which biodegradable in seawater. The initial investment will stand at EUR7 milion and will be made in two phases, with EUR3 million spent at first. Construction work will begin in 2021 and be completed in 2023,” says Tudor Georgescu, Promateris manager.
The company makes packaging from renewable, biodegradable and compostable materials, and already has a plant in Buftea, near Bucharest. Until recently, the company had been known as Prodplast.
Promateris is listed on the Bucharest Stock Exchange and more than 90% held by Central European Financial Services and its management via various companies.
It posted about EUR17 million revenue in 2019 and the target is to overshoot the EUR22 milion mark by yearend.
(English version by Loredana Fratila-Cristescu)