O-I and waste-to-product company, Renewi have signed a new Shareholder Agreement (SHA) for their Maltha Joint Venture.

The SHA signals a new start for Maltha, one of Europe’s largest glass recycling companies.

As Maltha was historically majority owned by Van Gansewinkel, a new SHA was required following the merger earlier this year between Van Gansewinkel and Shanks to create Renewi.

Renewi will continue to own 67% of the joint venture, with O-I retaining its 33% stake. The partners will deliver an important contribution to the circular economy by producing high-quality raw materials from waste glass.

Maltha focuses on recycling both flat and container glass into cullet and glass powder for reuse in the glass industry.

The cullet and powders produced are sold to glass manufacturers, including O-I, and makers of other glass products who demand high purity material.

Michael Prechtl, O-I Country Group Executive North / Central Europe, said: “Maltha makes the best use of the unique properties of glass, whose 100% recyclability ensures it remains the most sustainable packaging material.

"Much of our production contains over 80% recycled glass. Our new agreement with Renewi strengthens Maltha’s ability to provide a consistent, uncontaminated supply of high-quality cullet to much of O-I’s European operation.”

Bas Blom, Managing Director of Renewi’s Monostream Division said: “Maltha is run by experts from complementary parts of the value chain for glass products. Together, we give new life to used materials by ensuring that our circular product can be recycled over and over again without loss of quality.”

Maltha has sites in the Netherlands, Belgium, France, Portugal and Hungary.