Austrian recycling and packaging company ALPLA Group has reported turnover above €4 billion (£3.37 billion) for the first time.
Its investment in recycling and the development of bio-based and biodegradable plastics, plus acquisitions helped the company reach this turnover growth of 8.4%.
Since 2021, ALPLA has been investing €50 million (£42 million) annually in recycling with a target of closing recycling loops in as many regions as possible by 2025.
ALPLA chief executive Philipp Lehner said: “We have put ourselves in a strong position internationally in recent years, invested in the recyclability of plastics and in new technologies and materials, and achieved a new sales record in 2021.
“We want to secure this positive development sustainably and in the long term.”