This restructuring, which will go into effect in January, 2021, is derived from the significant growth recorded in recent years in the company’s activities related to the production of containers, and from the approval of the company’s new Strategic Plan to the year 2030 that intends to support its growth in the following two developmental aspects.
First of all, Novapet will continue applying its already known strategy of progressive downstream integration of its activities in the PET market, with important growth in the injection of preforms and in the design and production of finished containers of this material. In the upcoming years a strong investment plan will serve this strategic line dedicated to:
Reinforcing the production capacities of preforms in our plant in Barbastro, that is envisaged to pass the 2,500 million units in 2021.
Consolidating the presence of the company in new functional markets.
Creating a second injection plant in the south of the Peninsula.
Novapet Envase: NOVEN
To accomplish this, Novapet concentrates all these activities in a new specific division, giving it the new business name Novapet Envase (NOVEN), of recent creation, and which will be organized in two different branches of operations: NOVEN Preforms and NOVEN Farmaplás.
A new subsidiary REnovaPET
In second place, Novapet has incorporated in recent dates a new subsidiary, REnovaPET, which will concentrate all the assets and activities related to the production of rPET. In this regard, the company has already approved investments that will be materialized throughout 2021 to offer to the market, starting in 2022, 15,000 tons a year of rPET. This investment is only the first of those contemplated in the Strategic Plan of the company and that seeks making Novapet a leading company in the recycling market of this polymer through different channels.
The divisions of Novapet will be as follows:
Under the Novapet resins and concentrates umbrella will continue marketing the resins and concentrates of virgin PET, of the commodity resins as well as the wide range of special resins for sectors increasingly more different from the traditional ones (containers produced by direct injection, or by PET blown extrusion, engineered pieces, etc.), that will allow continued growth of this fully recyclable material in new applications.
All the PET preforms will be marketed by the company under the new brand NOVEN Preforms, as well as the technical, logistical and financial services associated with them. Already in January 2021, the commercial documents referring to these products and services will use this name.
NOVEN Farmaplás will include all the activities of the current Farmaplás and will be converted in the principal tool of Novapet for its growth in the finished plastic container market. An ambitious investment plan will ensure and support that growth in upcoming years, and will convert the company into a leader for the market.
REnovaPET will materialize the planned and approved investments in the sector of recycled PET, and will begin its commercial activities in the first months of 2022.
With all these changes, which will progressively take place in 2021, the SAMCA Group intends to ensure for Novapet in the future the position of leadership that it has today in the Iberian market of this material, converting the company in a coordinated constellation of synergetic businesses, and equipping it with a better deployment of operations through clearly distinguishable specialized divisions, with specific organizations, and with plans for development that ensure the expected growth in the company’s new Strategic Plan.
NOVAPET, a SAMCA Group company