In Australia, we are working on several sustainable initiatives to increase the use of recycled plastics in our products, while maintaining the high quality and long service life our customers expect. By doing this, we are part of the solution to reduce carbon emissions and we play a leading role in the circular economy with the ambition to become a sustainable supplier, valued by our customers, our employees, and our communities.
There is an increasing expectation from society, decision-makers, customers, and employees to offer more recycled products in general. As an example, our customers in the infrastructure market tell us that a strong concern they have is to find a sound environmental way of recycling waste pipes and fittings, confirming that there is a large opportunity for services around recycling.
We are currently increasing our recycling efforts in Australia by implementing 3 key steps:
1. Working on our process to easily incorporate recycled material
2. Securing the consistent and daily supply of recycled material
3. Developing new products with high content of recycled material
To turn our strategy into reality, Vinidex has applied for several grants to help fund the different projects. After an initial grant in the state of Victoria, Vinidex has now been granted a total of 1 million euros for 2 projects in New South Wales.
The first one is an infrastructure project at the Smithfield plant to facilitate improvements in the recycling process and to support offsite waste processing. The second is a project to develop a new infrastructure pipe product from recycled materials. The grants contribute to a significant part of the respective projects. Both projects are expected to be fully operational in about 12 months from now.
More grant applications are on their way, to be continued… Beyond the co-financing, these public grants are an independent recognition of our strategy to become a sustainable leader in our industry.