Recognised among the TOP companies in Lithuania

We have been named a TOP company in Lithuania for business stability and reliability by the country’s largest business data manager, Rekvizitai.lt.

Each year, Rekvizitai.lt, part of the Verslo zinios group, compiles a list of top companies. This list includes companies that conduct transparent business, uphold financial reputation, competitiveness, responsibility, and respect for their business environment. This year, our company has received this recognition.

“We are delighted to be recognised as a top company for the first time in our operational history. Our business is built on responsibility. We strive for sustainable and long-term relationships with our partners, clients, and employees. We understand our impact on the environment, and therefore, we continuously invest in new technologies to become more innovative and ensure business success,” says Algirdas Blazgys, CEO of our factory.

We have invested EUR 10 million under the company’s investment programme. This consists of three main parts: equipment for SRF product manufacturing, glass sorting equipment that will increase glass sorting capacity to 11,000 tonnes per year, and innovative food processing technology using insect larvae. These larvae will later be used to produce industrial proteins, biofuel, and fertilisers.

Not all companies meet the criteria

According to Marijus Morkevicius, Director of UAB Rekvizitai, which operates Rekvizitai.lt, only 6% of companies in Lithuania meet these high standards.

“It is likely that these companies will remain stable in the future and will be able to fulfil their financial obligations,” states the award certificate.

The Rekvizitai.lt website notes that top companies are profitable businesses that create long-term value and lay a solid economic foundation for the Lithuanian state. They are recommended as promising and economically stable companies with which one can expect successful and sustainable cooperation.

Selection criteria

To achieve this recognition, companies must meet stringent requirements. Selection criteria include being profitable, established for at least two years, timely in submitting financial reports, and having revenue that has grown, remained stable, or not significantly decreased over the last two years.

Additionally, the number of employees must be no less than three, with a stable or growing average. It is essential that companies are not listed in various debtor and obligation fulfilment registers and have not had significant or long-term debts to the State Social Insurance Fund Board (Sodra) in the last year. The average salary paid to employees must also be considered – in the first half of 2023, it had to be more than EUR 950.

For eight years, our factory has been sorting and processing mixed municipal waste brought from across the Vilnius County, which includes eight municipalities: Vilnius City, Vilnius District, Trakai, Elektrenai, Ukmerge, Svencionys, Salcininkai, and Sirvintos districts. This year, we have also begun to separate and process food waste from the Vilnius region. Annually, we sort about 220,000 tonnes of waste.