The Hellenic Recovery Recycling Corporation (HE.R.R.Co S.A.) was founded in December 2001 by industrial and commercial enterprises which, either supply packaged products to the Greek market, or manufacture different packaging items. The Central Union of Municipalities & Communities in Greece (KEDKE) has a shareholding of 35% in the System’s capital. In compliance with the provisions of Law 2939/01 and in seeking to fulfill the obligations of packaging operators in an effective and cost-efficient way, HE.R.R.Co has developed and implemented the Collective Alternative Management System – “RECYCLING” (C.A.M.S. – RECYCLING) in our country.
H.E.R.R.Co’s recycling system collects packaging waste from paper, plastic, glass, aluminium and tinplate. The collected stream is then transported to the Sorting Centers, where the recyclable materials are separated and forwarded for recycling.
The operation of HE.R.R.Co is based on a set of fundamental principles ensuring the attainment of its goals and based on European practices. They are summarized in the following points:
The contractual participation of packers and fillers is carried out subject to the same terms, regardless of whether they are shareholders or not.
The possibility of acquiring a shareholding in the share capital is open to all operators, subject to the same terms with existing shareholders.
The objective of HE.R.R.Co is not to achieve a positive financial outcome (not for profit company), but rather to utilize the financial resources allocated for the optimal recovery of packaging waste. It is for this reason that there is no provision for a dividend distribution to the shareholders of HE.R.R.Co.
The activities of the System which aim at the recovery of packaging waste from municipal waste are developed in close partnership with Local Authorities, as set forth in the legal framework.
All packaging materials used by participating companies are treated in an equitable manner.