Recycling Business of Monbat in the Italian Republic is performed in strict compliance with the law and in the context of good business practices

Corporate
December 10, 2020

Official statement by the Board of Directors of Monbat

In regard with media publications, commenting the recycling activity of Monbat and frivolously interpreting facts and happenings and presented as “journalistic investigations”, company’s Board of Directors (BoD) declares officially, that the presented facts are misleading.

In order to duly reveal information to all stakeholders, BoD of Monbat presents to the attention of the public in both Bulgaria and Italy, as well as to the investors, correct facts related to the business operations of the company in the Italian Republic and their relevance to the corporate activity in Republic of Bulgaria:

 

  • In the end of September 2017 Monbat acquired the recycling facility of Piombifera Italiana S.p.A. in Brescia, Italy, pursuing its strategic growth plans for geographic diversification and vertical integration of the production, in order to supply sufficient volumes of main raw materials (lead and polyethylene scrap from used lead-acid batteries), applied in the production process of new batteries. The deal for the Italian company is made in full compliance with the current Italian legislation and in the spirit of good business practices.
  • The only complex activity performed by Piombifera Italiana S.p.A. after the Monbat acquisition is collection and utilization of used lead-acid batteries. The very utilization features crashing of batteries and preparation for recycling of the different components – lead, lead paste and polyethylene debris from battery cases. The company possesses all the necessary certificates and permissions for performing its activity on the territory of the Italian Republic and the European Union.
  • Monbat restarted stepwise the operations in Piombifera Italiana S.p.A., implementing new recycling equipment and currently investing in a new metallurgical section. As of today, Monbat has invested 4 million Euro in new equipment.
  • We define recycling of scrap from used lead-acid batteries as “highly regulated and controlled”. In particular, the import of main raw materials from the Italian Republic in Republic of Bulgaria is performed by Monbat Recycling, according to strict notification procedure, coordinated between the Italian Ministry of the Environment and the Bulgarian Ministry of the Environment and Waters.
  • Monbat Recycling imports only materials, which are directly related with the production of lead-acid batteries. Partly, the imported raw materials are categorized as “hazardous waste” and their transportation, storage and processing require special measures. All these measures are strictly followed by the employees of Monbat and Monbat Recycling in compliance with the internal applied safety procedures.
  • All companies owned by Monbat and registered in Italy duly comply with the current Italian legislation in their operations and in the spirit of good business practices. Frivolous statements of dishonest business practices (direct accusations in bribery as means of acquiring the company) should be treated as malevolent slander and the company declares its readiness to take appropriate legal and factual action against their authors and distributors.

 

As known to the general public in Bulgaria, during the last six months the company Monbat has been subject to massive inspections for compliance with all legal requirements, related to the recycling of used lead-acid batteries. An independent audit, performed by the law firm Wolf Theiss and the respective audit report, publicly announced in early September 2020, proved unanimously that Monbat and Monbat Recycling maintain sustainably good level of organizational, documentary and operational measures and comply with the complex permit issued and the requirements of the applicable legislation in the field of environment and waste management. In particular, the report focused on the management and control of transboundary movements of hazardous wastes. The results of the audit proved that inflows and outflows are related to the import of raw materials for own production only.

 

In conclusion, the BoD of Monbat declares:

  • The company will continue to apply duly all legal provisions as accustomed and will perform additional efforts to protect the health of its employees, as well as to protect public health.
  • Solemn willingness to provide reliable and up-to-date information, regarding its activities, in response to any well-intentioned interest or institutional demand.
  • It will further protect the interests of its investors, preventing the dissemination of malevolent and damaging intimations and allegations, aimed at producing media sensations through “fake news” and at damaging corporate reputation.