Toly, a company which specialises in the manufacture of beauty products, has announced an investment of three million euros, with a substantial part of the investment being allocated to research and innovation with a view to making the company’s operations more sustainable. During a visit to this company, Minister Miriam Dalli said that the Government had helped companies with the wage supplement, and as a result of this support Toly recorded an increase in sales in April and is predicting good prospects for the coming months.
An investment of three million euros toward strengthening the operation of the Toly company over the next 4 years so that in the words of the Chairman and Chief Executive of the company Andy Gatesy, the company that started from modest roots fifty years ago, will continue to expand and evolve sustainably.
He recalled how in 1971, Toly started operating from Bulebel, and was the first factory in Malta in this industrial area. Today it has become one of the foreign companies to supply the beauty industry: 23 out of 30 international beauty companies import their products from Toly, which also has offices from the United States, Europe and Asia.
Toly Chief Executive explained how the company was investing in the latest technology with geothermal concepts among others to cool the machines and the product molds, while also focusing on the process of waste management. He claimed that in the next 4 years Toly will also be investing in converting its engines to electricity, with photovoltaic panels on the roofs to generate energy.
“Wwe are now working on what we can do to rebound after the crisis and you can already see that consumer confidence is starting to gain and things are coming back… we are going to be investing in sustainability, our customers are looking for sustainable solutions so we are looking at energy efficiency, electric moulding machines, investing in changing our moulding machines and putting pv panels on roof of our building.”
Mr Gatesy said this investment in photovoltaic panels would be meeting 20% of the company’s energy demand and would result in a 2,000-ton shortfall in toxic carbon dioxide emissions.
Minister for Energy, Enterprise and Sustainable Development Miriam Dalli described Toly as a success story with a tradition of research and investment in workers, and an emphasis on diversification. She said that the Government’s strategy through Malta Enterprise is focused on continuing to help companies invest in sustainability.
“We will continue to incentivize businesses to invest more in the digital field and in sustainability, thereby ensuring that our businesses are resilient in this challenging time. Toly Products is a clear example of this.” .
Minister Dalli said that despite the difficulties presented by Covid, the Government had helped companies with the wage supplement, a support that she said led to a company like Toly being able to record an increase in sales, which is forecast to continue meeting its targets in the second half of this year.