Thrace Group
Strengthnes capacity with €10 million investments - Opportunities in Belgium & Europe
In order to strengthen capacity, the Thrace Plastics Group is launching a new investment program totaling €10 million in the packaging sector in Greece, which will be implemented through its subsidiary, Thrace Plastics Pack.
Newsroom
13/11/23 • 10:39
In order to strengthen capacity, the Thrace Plastics Group is launching a new investment program totaling €10 million in the packaging sector in Greece, which will be implemented through its subsidiary, Thrace Plastics Pack.
More specifically, the new investments are expected to directly increase the production capacity of the aforementioned subsidiary by approximately 4,000 tons annually, especially from the beginning of 2024. The financing of this new investment program will be carried out through a combination of equity and external financing.
FOCUS ON SUSTAINABLE DEVELOPMENT
Speaking to BnB Daily, the CEO of the group, Dimitris Malamos, mentioned that there has been an increase in demand in the packaging sector, with volumes rising as much as the existing capacity allowed. That's why the group proceeded with investments.
He emphasized that the new investment program is oriented towards sustainable development, with a focus on further increasing the production capacity of the subsidiary and the packaging industry as a whole.
The goal is to meet the needs of Greek market customers with a more comprehensive product portfolio while further developing exports and strengthening the group's external orientation.
THE INVESTMENT PLAN The group's plan includes investments in mechanical equipment:
- In Injection Moulding technology, the primary technology for producing plastic containers, products mainly targeting the food industry, the hospitality/restaurant sector, and the paint industry.
- Utilizing Thermoforming technology for the production of small plastic containers, primarily catering to the food industry, especially dairy products.
- In the production of paper packaging products, targeting mainly the hospitality sector, as a supplement to the existing product portfolio.
AT 2022 THIS YEAR'S PROFITABILITY
The group, expected to announce nine-month results in about 10 days, anticipates a good year, confirming the estimates for the half-year, while profitability is projected to remain at last year's levels.
"We are satisfied with the performance so far, considering the conditions in the packaging market, especially in Europe, which is our key market," explains Mr. Malamas. He adds that market conditions are not favorable in the second half, as there is a decrease in demand in the construction sector. "Considering these factors, we are pleased with the progress we have today."
EXPORTS TO MORE THAN 80 COUNTRIES
The group exports to more than 80 countries, with a focus on further strengthening its presence in Southeast Europe, where it is a market leader.
"We see opportunities in other European countries as well, such as our expansion into Spain, where we have entered and are doing very well. We also see opportunities in Belgium, where, for now, it is a small market, but there is potential for further growth," highlighted the spokesperson.
