Promateris announces a shareholder change and welcomes among its shareholders - Pavăl Holding, the most representative investment vehicle on the local market.

Promateris is encouraged by the collaboration between Romanian entrepreneurs, who join forces for the development of the sustainable packaging production sector, being motivated to continue the path of growth at regional level.

Pavăl Holding's investment in the Promateris group will help us strengthen our leading position in Central and Eastern Europe: through strategically addressing new markets, through diversifying the production portfolio and through acquisitions. The concern for sustainability, innovation and added value is shared by the new shareholders, which will allow us to further invest in research and development and identify options to expand our value chain, increasing the degree of circularity of our business. We are confident that the experience, know-how and financial solidity of Pavăl Holding will have a significant impact on the development of Promateris, and a positive impact on all stakeholders and the communities in which we operate, says Tudor Georgescu, Director General Promateris.

Promateris aims to continue investments at group level, by increasing the production capacity and by investing in product portfolio diversification. We analyse the opportunity of M&A projects to support EBITDA growth for 2023-2025. Promateris will continue to invest in organic growth, through the development of high added value products, based on the company's proprietary R&D. Promateris will also start the production of raw material based on corn starch, intended for the production of biodegradable and compostable packaging. Promateris will be the first company in Eastern Europe to produce raw material based on corn starch.

We are happy that Pavăl Holding is expanding its portfolio of companies and also the areas of investment. The sustainable packaging industry is an attractive and effervescent one, and the partnership with Promateris, the regional leader in this market segment, opens a new, strategic investment direction for our group. We are very confident that together we will succeed in bringing Promateris among the top European manufacturers of sustainable packaging, says Karina Pavăl, Vice President of Pavăl Holding.

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