Verallia Deutschland AG, a subsidiary of the Verallia Group, and Remondis Recycling GmbH & Co KG signed a joint venture (JV) agreement today to form a company called VERRE Recycling GmbH & Co KG.
Both Verallia and Remondis will bring two different waste glass processing plants into the joint company, including Verallia Deutschland’s processing plant in Bad Wurzach – founded in the early 1970s and considered the cradle of global glass recycling – and Remondis’ plant in Koblenz.
The JV, in which Remondis will hold 60% of shares and Verallia Germany 40%, aims to achieve synergy through comprehensive know-how transfer as increasingly complex production processes in glass recycling require growing technical expertise and support. Against the backdrop of national and international competition, both partners believe it is necessary to gain better and more secure access to the recycled glass market. The two JV partners expect their cooperation to result in greater security of cullet supply and the highest quality standards for what is now the most important raw material in container glass production.
This JV strengthens Verallia’s approach to sustainability outlined in its corporate purpose, Reimagine glass for a sustainable future, – enabling it to further build on its sustainability commitments through recycled glass management. “To make glass fully sustainable, we need to act beyond our core business operations to strengthen recycling systems and promote reuse. With a strong partner by our side, we are one step closer towards helping make the circular economy a reality,” commented Hugues Denissel, CEO of Verallia Deutschland AG.
Christoph Bildstein, Member of the Management Board of Remondis Recycling GmbH & Co KG, said: “With this joint venture, we are taking the business relationship between the two companies, which has existed for over 30 years, to a new level. By combining their expertise and know-how, Remondis and Verallia can produce even more sustainable products together. Glass recycling has been a mainstay of the circular economy for many decades. Strong partnerships such as the one between Remondis and Verallia are needed to expand the success of glass recycling and contribute to climate protection and resource conservation demanded by the EU’s Green Deal”. Operations are scheduled to start in July 2021.
For more information go to www.verallia.com.