The Hellenic Recovery Recycling Corporation

Identity

The foundation of the Hellenic Recovery Recycling Corporation (HERRCO) in December of 2001 was the result of an initiative taken among Greek companies active in packaging production and the trading of packaged goods, aiming to meet more effectively their legal obligation for the recycling of packaging waste deriving from their products through the self-administration of their funds, within the framework of the National and European legislation.

To respond to the above requirements, HERRCO – in accordance with the provisions of Law 2939/01 – has developed and implemented in Greece the Collective Alternative Management System – RECYCLING (CAMS – RECYCLING) by applying 6-year Operational Plans as approved by the competent authorities.

HERRCO constitutes an exceptionally successful example of collaboration among the local packaging producers placing their products in the Greek market, the packaging importers and the Local Authorities of the country, who are legally bound for the collection of municipal waste.

In relation to its shareholder structure, 35% of the share capital belongs to the Central Union of Municipalities of Greece and the rest to the industrial and commercial companies bound by Law to undertake the collection and recycling of their product packaging.

The operations of HERRCO are not governed by profit, but instead, for the benefit of public interest, as provided by the legal and regulatory framework in force.

Shareholders

The Central Union of Municipalities of Greece participates in the share capital of the System with 35% and is represented in the 9-member Board of Directors of HERRCO by 3 members. The industrial and commercial companies complementing the shareholder structure of HERRCO, via Hellenic Recovery of Packaging Materials S.A., are the following:

  • ARTENIUS HELLAS S.A.
  • COCA – COLA HBC GREECE S.A.
  • COLGATE PALMOLIVE (HELLAS) S.A.
  • CROWN HELLAS CAN S.A.
  • ION S.A.
  • NESTLE HELLAS S.A.
  • PEPSICO – IVI S.A.
  • VIVARTIA S.A.
  • ATHENIAN BREWERY S.A.
  • ΕLAIS – UNILEVER HELLAS S.A.
  • ELVAL S.A.
  • MEVGAL S.A.
  • PAPASTRATOS CIGARETTE MANUFACTURING CO.
  • PROCTER & GAMBLE HELLAS LTD
  • TETRA PAK HELLAS S.A.
  • BA GLASSWORK OF GREECE S.A.
  • FAGE S.A.
  • FRIESLANDCAMPINA HELLAS S.A.
  • PSIGIA THEOD. KLIAFAS S.A.

Operating Principles


  1. Participation in the share capital of HERRCO is open to any company providing the market with packaged goods, subject to the terms valid for existing shareholders.
  2. HERRCO is a non-profit entity and its shares do not distribute dividends.
  3. Service is provided to the legally bound administrators under the same terms, whether they are shareholders or not.
  4. The main activities of CAMS – RECYCLING are developed in close collaboration with the Local Authorities, as dictated by the legal framework.
  5. HERRCO handles all packaging materials available in the market according to objective technical and financial criteria.