- The Rostock PET recycling site will close on December 31, 2023.
- The closure affects around 50 employees.
- The decision is due to market instability and lack of long-term sales agreements for recycled PET.
- Other sites in Switzerland, Norway, Sweden, and Hamburg are not affected.
Closure Announcement
Veolia PET Germany GmbH will shut down its PET recycling site in Rostock on December 31, 2023, after over 20 years of operation. This decision impacts approximately 50 employees.
Reason for Closure
The closure is attributed to the lack of long-term security for the production site. Market conditions have made it difficult to secure sales of recycled PET in collaboration with the beverage industry and retailers. The willingness of market participants to engage in long-term purchase agreements for recycled PET on economic terms is crucial for maintaining the PET recycling loop. In the current volatile market climate, Veolia finds it unsustainable to continue operating the Rostock plant economically.
Impact on Other Sites
Veolia PET Germany GmbH, headquartered in Hamburg, is part of Veolia Umweltservice GmbH and is a leading entity in the European PET recycling market. The closure of the Rostock site does not affect the company's other production sites in Frauenfeld (Switzerland), Fetsund (Norway), Norrköping (Sweden), or the central marketing company in Hamburg.
