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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO paper, cardboard maker gets EUR 8.5 mln state aid for recycling business

Vrancart, one of the largest Romanian producers of tissue paper, corrugated cardboard, and cardboard packaging, will receive state aid worth a maximum of RON 40 million (EUR 8.5 mln), the company announced on the Bucharest Stock Exchange (BVB), Economica.net reported.

The company plans total investments worth EUR 17 mln in the recycling sector through its subsidiary Vrancart Recycling.

The investment will be located in Adjud, on Vrancart's industrial platform. It will be implemented in two years and create 164 new jobs and an annual turnover of EUR 8.5 mln.

Vrancart Recycling will benefit from the synergies within the group that owns, in addition to the paper and cardboard recycling capacities, the largest network of waste collection centers in Romania (20 collection centers in 17 cities). In 2020, Vrancart collected over 140,000 tons of recyclable waste.

The company also announced that, at the end of last year, it established a new company, Ecorep Group, whose object of activity is the implementation of obligations regarding extended producer responsibility (OIREP).

Vrancart, which is controlled by investment company SIF banat-Crisana, is the majority shareholder in Ecorep Group.

The other shareholders are IAMU Blaj and Rom Paper Brașov (also controlled by SIF Banat-Crisana), Somplast Nasaud (controlled by Teraplast Group), and Dedeman, the largest Romanian entrepreneurial company. Dedeman's owners, Adrian and Dragos Paval, are also minority shareholders in Vrancart.

(Photo: Shutterstock)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO paper, cardboard maker gets EUR 8.5 mln state aid for recycling business

Vrancart, one of the largest Romanian producers of tissue paper, corrugated cardboard, and cardboard packaging, will receive state aid worth a maximum of RON 40 million (EUR 8.5 mln), the company announced on the Bucharest Stock Exchange (BVB), Economica.net reported.

The company plans total investments worth EUR 17 mln in the recycling sector through its subsidiary Vrancart Recycling.

The investment will be located in Adjud, on Vrancart's industrial platform. It will be implemented in two years and create 164 new jobs and an annual turnover of EUR 8.5 mln.

Vrancart Recycling will benefit from the synergies within the group that owns, in addition to the paper and cardboard recycling capacities, the largest network of waste collection centers in Romania (20 collection centers in 17 cities). In 2020, Vrancart collected over 140,000 tons of recyclable waste.

The company also announced that, at the end of last year, it established a new company, Ecorep Group, whose object of activity is the implementation of obligations regarding extended producer responsibility (OIREP).

Vrancart, which is controlled by investment company SIF banat-Crisana, is the majority shareholder in Ecorep Group.

The other shareholders are IAMU Blaj and Rom Paper Brașov (also controlled by SIF Banat-Crisana), Somplast Nasaud (controlled by Teraplast Group), and Dedeman, the largest Romanian entrepreneurial company. Dedeman's owners, Adrian and Dragos Paval, are also minority shareholders in Vrancart.

(Photo: Shutterstock)

[email protected]

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