Polymer Recycling Moves Forward as PET Baltija Doubles Its Fibre Production with The Acquisition of TESIL Fibres of The Czech Republic

• September 28, 2022

This transaction is set to increase PET Baltija's annual turnover by more than 50% and ensure the production of higher value-added products by the company.

“This transaction puts PET Baltija on the map as a key international player in the PET recycling sector. Up to this point, we were the region's leading player in terms of recycled PET production but now our portfolio will also include the production of a finished product – PET fibre. The growth potential of TESIL Fibres as well as its close-knit and professional team serve as an excellent foundation to further the development of the company and make smart use of the synergies between the two businesses. The vertical integration of PET Baltija and TESIL Fibres and a closer cooperation between the two will help us to create more value for our employees, customers and partners,” said Salvis Lapi?š, Chairman of the Board at PET Baltija.

TESIL Fibres is the Czech Republic’s largest producer of PET fibre with 150 employees and an annual capacity of 33 000 tonnes, reaching revenues of €27 million last year.

Known for its high production quality standards, the company acts as a primary fibre supplier in the European market for the automotive, hygiene, textile and furniture segments.

Deimant? Korsakait?, Executive Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory Board at PET Baltija, commented: “PET Baltija has more than doubled its revenues since our investment. In parallel to further organic growth and investments in production expansion set to more than triple the existing food-grade rPET capacities, PET Baltija is also pursuing a path of vertical integration, in line with the overall strategy. Following the acquisition, the combined revenues of PET Baltija are set to exceed €100 million, solidifying it as an international player and further strengthening its contribution towards sustainable development.”

About PET Baltija

AS "PET Baltija" is one of the largest PET bottle recycling companies in Northern Europe. AS "PET Baltija" is located in Latvia which has become one of the leading polymer material recycling centres in Northern Europe, where professional competence, technologies and innovations are combined in one place.

One of our most significant advantages is the strategically important location for business which is oriented towards the developed economies of the European Union (EU) member states and the developing markets of our Eastern neighbours. Latvia has naturally become a gate between the USA, EU, and Asia (especially Russia/CIS countries).

Recycling company AS "PET Baltija" aims to become the most proficient polymer recycling company in Northern Europe offering products that are most in-demand.

We cover the largest market share in the Baltic states and a market share of 2% in the European market.

Eco Baltia

AS "PET Baltija" is part of the holding company "Eco Baltia" group.

It is the largest environmental management group in the Baltic states, which unites waste management, raw material collection and used packaging recycling companies.

The subsidiaries of "Eco Baltia" group are market leaders with high product and service quality standards as well as innovation and sustainability programmes.

Eco Baltia Ltd. includes such companies as Eco Baltia vide, Jumis and Ecoservice.

The principal activity of these companies is waste management.

Waste raw material logistics, processing and wholesale is performed by Eco Baltia vide and the waste management chain is concluded by the leading polymer recycling companies in the Baltic States - PET Baltija and Nordic Plast.