Romcarbon wants to develop new recycling activities

The plastic processor Romcarbon Buzău (ROCE) signed an agreement with Swancor Holding for the development of a new recycling activity, according to a company report published yesterday on the website of the Bucharest Stock Exchange (BVB).

"Collaboration with Swancor aims to develop the activity of recycling thermosetting materials on the territory of the European Union", the document states.

Swancor is a technology-oriented company established in 1992 with factories in Nantou, Shanghai, Tianjin, Jiangsu and Malaysia, focusing on innovative research and development. The Swancore group of companies is mainly involved in the production of fine chemical composites and carbon fiber, with its products supplied to more than thirty countries.

According to the BVB report, Romcarbon's participation in the partnership with Swancor is part of the company's efforts to develop its recycling activity and align it with the principles of the circular economy. "The company has expanded/intensified its efforts to scale up its current recycling activity as European and global decarbonisation targets have been defined. Thus, the collaboration with Swancor is a natural step, in the context in which the signs of climate change have become visible and the reduction of carbon emissions is no longer only an environmental issue, but also has a solid economic impact, with all industries aiming for net zero emissions and towards sustainable operation", the document states.

For the first nine months of the year, the Romcarbon Group reported revenues of almost 230 million lei, 20% below those of the first three quarters of last year and a loss of 0.9 million lei, compared to a net profit of about 13, 4 million lei, between January and September 2022.

Romcarbon Buzău is a manufacturer of plastic plates and profiles that also has activities in the chemical and recycling industry. The stock market valuation of the issuer amounts to approximately 100 million lei.