News

Recycling of plastics plays a major role in the achievement of the European Union (EU) Green Deal objective, and Member States have to cope with increasingly stricter regulatory framework. In order to promote the use of recycled materials and sustainability of plastic bottle production, pursuant to the legislation, PET bottles must currently contain at least 25% recycled plastic and at least 30% of recycled material must be incorporated in all plastic beverage bottles by 2030.

Polymer processing company JSC “ITERUM” has received platinum assessment in the Sustainability Index Assessment 2024 organised by the Institute for Corporate Sustainability and Accountability. Four companies of “Eco Baltia” Group applied for participation in the assessment, and all four received awards.

On October 23, the new factory of JSC “ITERUM” (formerly “PET Baltija”) was opened in Olaine – one of the largest in Northern Europe with a planned processing capacity of 80,000 tons per year, or about 30% more than it was possible to provide at the company’s previous production facility in Jelgava. “ITERUM” has invested more than 10 million euros in the creation of the new factory, while the total investment reaches more than 35 million euros.

On October 3rd of this year, changes were made to the existing board of JSC (AS) ITERUM, a PET bottle recycling company within the largest environmental resource management and recycling group in the Baltics, JSC (AS) Eco Baltia. Andris Ābele, the current director of the plant, has joined the Board as a member of the Management Board. These changes were made to strengthen the company’s governance and promote the faster development of ITERUM in the international market.