Kompuestos to invest 5 million euros in the manufacture of degradable and compostable bioplastics
The company celebrated today the 'bell ringing' event at the Madrid Stock Exchange
- The company joined the Spanish Alternative Stock Market (MAB) on August 12 through the first combined offer of subscription and sale of shares in the history of the MAB, for a joint amount of more than 10 million euros
- 60% of the volume that Kompuestos transforms are low carbon footprint products and 70% of their manufacture is exported to over 50 countries
- Kompuestos is adhering to the Global Commitment to the New Economy of Plastics through the Ellen McArthur Foundation to meet clear and quantified objectives in the circular economy of plastics
Kompuestos (Plásticos CompuestosS.A.), a leading European producer of plastic compounds, today held a symbolic 'bell ringing' event at the Palacio de la Bolsa in Madrid after joining the Alternative Stock Market on August 12, 2019.
The company joined the MAB through the first combined offer of subscription and sale of shares in the history of the MAB, for a joint amount of more than 10 million euros.
Kompuestos will invest the capital increase tranche, 5 million euros, to provide the company with the necessary resources to develop the bioplastics business through the implementation of a new manufacturing line and that will increase the annual production capacity of ecological plastics to 43 thousand tons per year. The increase in production capacity in the bioplastics business and the start of operations of the new line will bring Kompuestos' manufacturing capacity to over 150 thousand tons per year.
Ignacio Duch, chairman of Kompuestos, pointed out during the 'bell ringing' ceremony that: "Since the end of the 1990s, we have been developing mixtures with minerals of natural origin such as talc, calcium carbonate or silica, which we incorporate in the manufacture of different objects - films, bottles, plastic pipes, etc. - significantly reducing the need for plastic polymer as it is partially replaced by these minerals. In short, a lower consumption of plastic for the same items reduces the carbon footprint they generate and their environmental impact".
The president of Kompuestos also added that: "this business unit has allowed us to grow steadily over the last few years. In fact, now, 60% of the volume that Kompuestos transforms are products with a low carbon footprint and we export 70% of our production to more than 50 countries. ”
The head of the company has pointed out the importance of recycling and reusing these materials, using them as raw materials to generate new ones and close the circle of their use. In this sense, Kompuestos is adhering to the Global Commitment to the New Economy of Plastics through the Ellen Mc Arthur Foundation to meet clear and quantified objectives of the circular economy of plastics.
Kompuestos presents itself to the market as the company that provides solutions by offering biodegradable and compostable plastics manufactured with a high percentage of renewable content, mainly from agricultural sources.
In this regard, Ignacio Duch has stated that: "We cannot allow plastics to end their life scattered eternally everywhere, degrading themselves in an uncontrolled way and affecting life in the sea, the health of people and living beings, as well as the aesthetics of the planet. In addition, we have seen how sensitive investors are to products that are compatible with the environment, and there is a great need for solutions in this area."
MAB incorporation data
The company incorporated on August 12 in the MAB's segment of companies in expansion at a price of 2.48 euros per share, which meant a total capitalization of the company of 30 million euros.
Impulsa Capital acted as Registered Advisor. GVC Gaesco Valores (Grupo GVC Gaesco) performed the functions of Coordinating Entity, GVC Gaesco Valores and Intermoney as Placement Entities and GVC Gaesco Valores as Agent Entity.
Kompuestos, a listed company in Spanish Alternative Stock Exchange, is a leader in the production of sustainable plastic compounds in Europe. Based in Barcelona, it is one of the leading international suppliers of high-performance compounds aimed at reducing the carbon footprint in the production of plastics, which are used as raw material in multiple industries worldwide.
Kompuestos has developed and certified a complete range of biodegradable products for the replacement of traditional plastics, especially in sensitive applications such as single-use bags and hard-to-recycle products.
The company maintains a strong commitment to the environment. In this sense, it is positioned in favour of the circular economy of plastics and is committed to sustainable innovation by developing biodegradable and compostable products as well as mixtures with minerals that improve the imprint of CO2. The company is developing advanced technologies and plastic recycling additives so that they can be properly reused and the result is not second-rate products and difficult to apply.
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