The Corporation

The Hellenic Recovery-Recycling Corporation SA (HERRCo) 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 in Greece (KEDE) 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. 

Click to see a list of HE.R.R.Co’s shareholders

 

Operational Principles

The operation of HERRCo 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 packaging operators 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 HERRCo is not to achieve a positive financial outcome, 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 HERRCo Pursuant to a decision by the Ministry of Finance, any spare funds generated annually are to be transferred to a special reserve for the purpose of being used for the objectives of HERRCo in the next financial periods. 
     
  • 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.


C.A.M.S.-RECYCLING

Under Ministerial Decision 106453/20-02-2003, the Ministry of Environment approved the Collective Alternative Management System - RECYCLING (CAMS - RECYCLING) that HERRCo has developed and implemented in our country which has to do with the alternative management of the packaging waste.

Following its successful 1st six-year period of operation (2003-2009), the renewal of the system’s operation was ratified for the 2nd six-year period (2009-2015), by means of Ministerial Decision No. 118019/18-3-09.

The Alternative Management System is addressed to all packaging operators. It ensures equitable and free participation and offers members the opportunity to fulfill their legal obligations in the optimal way, thus effectively contributing to the protection of the environment in our country.

Today (2014), more than 1.720 companies, covering the entire spectrum of business activities and accounting for the largest proportion of packaging waste by virtue of their number and size, have joined the Collective Alternative Management System, C.A.M.S.-RECYCLING, of HERRCo.

The long list of companies affiliated with HERRCo proves that the Collective Alternative Management System (C.A.M.S.-RECYCLING) has gained extremely wide popularity and acceptance among all packaging operators, operating and active in our country. 


The establishment of HERRCo:

  • reflects the involvement of industry and commerce in the field of alternative packaging waste management (self organization).
     
  • demonstrates the social responsibility of enterprises towards the environment and its required protection.
     
  • proposes a flexible and effective system, which corresponds to the specifications laid down by the law.
     
  • constitutes a connecting link for the effective cooperation of all parties involved (the state/enterprises/Local Authorities) .
     
  • contributes to the education of citizens on the concept of Recycling.