BUFTEA, Romania, April 19, 2021 /PRNewswire/ -- Promateris has initiated an investment project of a new division, Bio Compounds, which aims to locally manufacture raw materials from partially renewable resources, used in the production of compostable packaging. Thus, Promateris consolidates its position as a regional player, building the leading integrated bio-based production capacity in Central and Eastern Europe.
The investment is part of the "Bio-based circular solutions to decarbonize the local economy" project and has a value of over 1.65 million euros. The project is supported by a grant of EUR 744.000 provided by Iceland, Liechtenstein and Norway through the EEA and Norwegian Financial Mechanism 2014-2021, within the "SMEs Growth Romania" program. The project is developed in partnership with the Norwegian company BioBag.
The new Bio Compounds division will start the production of BioMateris in 2022, a raw material used in the production of compostable packaging. Since Romania is one of the key producers of agricultural outputs within the European Union, Promateris aims to encourage and participate in the development of a strong local bioeconomy and an efficient use of natural resouce.
Moreover, the integration of local agricultural chains enables manufacturers of bio-based and compostable packaging to reduce their carbon footprint and to create a stronger local circular economy.
BioMateris is the result of continuous investments in the company's R&D department, as well as the result of several partnerships with research institutes. BioMateris will be used to develop products for the following industries: agriculture (mulch film), retail and HoReCa (food packaging), bio-waste management (bin liners) etc. Promateris has more than 50 years of tradition in the manufacturing of technical & specialty polymer-based compounds, an experience that will strongly benefit the development of this new division.
Promateris is a leading European manufacturer of sustainable products and solutions for the circular economy. With a history of more than 60 years in packaging manufacturing, Promateris gained regional leadership and top manufacturing expertise in chemical engineering.
Promateris Group invests in developing sustainable packaging products and solutions for the circular economy, R&D and end-of-life solutions. The company also operates a plant dedicated to manufacturing specialty compounding for technical applications. Active in Bucharest, Valencia and Athens through commercial offices, and through distributors in more than 20 countries and 3 continents.