New advanced recycling project in Croatia

Archiv – Cleantech investor Deutsche Environmental & Renewable Energy (DE/RE) and Croatian company Gumara Cavic are setting up a recycling facility which is acclaimed to be ’the most advanced in the region of Ogulin, Croatia. DE/RE and her Netherlands-based subsidiary BEBRA BV will provide project management and consultancy together with their partners. They will supply the required equipment and will become a minority shareholder in the new operating private company for this facility. Croatia | Cleantech investor Deutsche Environmental & Renewable Energy (DE/RE) and Croatian company Gumara Cavic are setting up a recycling facility which is acclaimed to be ’the most advanced in the region of Ogulin, Croatia. DE/RE and her Netherlands-based subsidiary BEBRA BV will provide project management and consultancy together with their partners. They will supply the required equipment and will become a minority shareholder in the new operating private company for this facility.
Gumara Cavic d.o.o. has more than 50 years of experience in recycling rubber and produces currently more than 40.000 different rubber products for customers in Europe. The new facility will be based near Ogulin in Croatia and will have up to approximately 50 employees. Primarily the recycling facility will be used for tire/rubber, household and electronic recycling.
The value of the initial phase (2010) of the project is 20 million Euro with an expected ROI of 4 ½ years. It is expected that the second phase -household appliances and electronics- will start in 2012. The second phase will have an investment range of 30 million Euro with a ROI of 4 ½ years. DE/RE will participate on the equipment sales and will get commissions for the funding. Also DE/RE will participate on earnings in the new operating private company that will be founded in the next days.
M. Jakovljevic, CEO of Cavic: ’After almost a year of discussions and negotiations we are very pleased with the reached agreement. We have secured location, necessary authorisation as well as regular flow of materials. With DE/RE we also have a solid partner who will help us to realize our long term plan.’