EBRD supports Evertis sustainable plastic production and FDI in Lithuania

The European Bank for Reconstruction and Development (EBRD) is boosting foreign direct investment (FDI) and sustainable plastic production in Lithuania by supporting the international expansion of Portugal’s IMG Group, a global leader in the polymers industry since 1959 and pioneers in polyethylene terephthalate (PET) Film extrusion.

The Bank is lending €25 million to Evertis – a subsidiary of IMG Group – to finance the construction of a state-of-the-art facility producing plastic film in the Klaipeda Free Economic Zone.

The new facility will produce polyethylene terephthalate (PET) film with up to 50 per cent recycled content – double the European Union’s minimum requirement of 25 per cent – while ensuring that its products are 100 per cent recyclable. This will enable the company to reduce plastic waste by up to 13,000 tonnes per year and decrease annual greenhouse gas emissions by approximately 29,000 tonnes.

In addition, the plant’s operations will adopt advanced Industry 4.0 digital manufacturing and industrial Internet of Things solutions to enhance operational efficiency and traceability and reduce material waste.

The food, beverage and healthcare sectors – the largest consumers of plastic packaging – are set to benefit from enhanced access to recyclable and lower-carbon packaging materials as a result.

This will help Lithuania to meet the commitments outlined in the European Union’s Green Deal, while also attracting international capital and expertise, as well as creating 50 new jobs in the first phase of the project.

Tomas Kairys, the EBRD’s Head of the Baltic States, said: “We are very proud to be financing IMG Group’s first manufacturing operation in Lithuania, the first Portuguese greenfield investment in the country. Our investment not only supports this significant FDI milestone for the country, but also responds to growing demand for sustainable, eco-friendly packaging in Europe.”

Frederic Lucenet, EBRD Global Head of Manufacturing and Services, said: “We are proud to support the strategic expansion of IMG Group into the Baltics. This landmark investment fits squarely into our strategy to finance industrial decarbonisation and the circular economy”.

Manuel Matos Gil, IMG Group President, said: “I thank all parties involved in getting to this point in such a positive and productive manner at every stage. This investment in our global group production footprint will enable us to offer shorter lead times, reduce supply chain risks, and better align with the increasing market demand for packaging solutions that prioritize circularity and environmental responsibility”.

Evertis, present in the polymers industry since 1959, is a specialist in the production of barrier films for food packaging and other packaging applications, and a pioneer in PET film extrusion. With a wide variety of tailor-made solutions in its portfolio, Evertis focuses on supplying films that ensure product safety whilst closing the loop. It is ultimately owned by IMG Group, a Portuguese holding company overseeing a group of entities involved in the production and sale of plastic-based products.

The EBRD is a leading institutional investor in Lithuania, having invested more than €1.86 billion across 144 projects to date.