This initiative, launched by the European Commission on December 11th, 2018, aims to increase the volume of recycled plastic in the EU market to 10 million metric tons by 2025, compared to the 3.8 million metric tons recorded in 2016. This step confirms our commitment that, as a company, we promote among our customers and suppliers.
As a specific commitment of our Company in the CPA, we present the Reciclex project, which aims to address the shortage of recycled material with the consistent quality levels required by the market. This limitation is one of the barriers identified in order to increase the use of recycled plastic materials. With this project, we aim to reach new markets and more technically demanding final applications.
Additionally, we are working on an initiative to incorporate recycled plastics in the formulation of our 25 kg multilayer industrial bags, helping create a greater demand for recycled plastics directly.