PRESS RELEASE BY THE MINISTRY FOR THE ENVIRONMENT, ENERGY AND PUBLIC CLEANLINESS Stability in energy prices allows companies to continue expanding and investing in their workforce

Thanks to the Government's decision to keep energy prices stable, companies in Malta are managing to grow and strengthen further. This is also the case for a local company that specializes in injection moulding for both local and international clients, which has been able to continue expanding its operations and investing in its employees.

During a visit by the Minister for Energy, Miriam Dalli, to the company Thermoplastics, the company's Managing Director, Kenneth Caruana, explained how the company, established in 1996, has remained competitive within European and Eastern markets primarily due to Malta's stable energy prices.

“Our operations rely heavily on energy prices: electricity, as well as plastic, which serves as the base material for our products. The assurance that energy prices in Malta remain competitive and stable allows us to offer cost-effective services while continuing to invest in both the company and our employees," explained Caruana.

While Minister Dalli met with employees and observed the operations of Thermoplastics, Chief Operating Officer Mark Spiteri and Chief Development Officer Stephen Xerri explained that the company has three manufacturing plants, one of which is in Tunisia. With sustainable operations, the company ensures that plastic is recycled for use in the production of its products and that it purchases materials that are either recycled or biodegradable.

“Through the investments made over the years, we have replaced 75% of our machinery with more energy-efficient equipment. At the same time, we are planning a full renovation of our premises to further enhance energy efficiency and to integrate renewable energy sources," added Caruana.

This investment is expected to result in an increase in the number of highly skilled workers that Thermoplastics will employ in areas such as engineering, finance, human resources, and logistics, among others.

Minister Miriam Dalli stated that the Government remains committed to assisting businesses and families with energy prices. “From 2021 until today, the Government has invested around one billion euro to ensure that international pressures on electricity, fuel, and LPG rates are not borne by families. This commitment will continue to be upheld in the Budget that will be presented for the coming year."