PET Baltija acquires the Czech company of Tesil Fibres

Published: 31.08.2022 Related countries:  Czech Republic Czech Republic, Latvia Latvia

Acquiring the Czech company, Latvian based PET Baltija expects to increase its turnover by more than 50%.

PET Baltija has bought 100% of Tesil Fibres from Silon. The Latvian company expects to increase its turnover by more than 50% from the acquisition. Tesil Fibres, which is based in Plana nad Lužnicí, supplies its products primarily to the European market for entities operating in the automotive, textile, drugstore and furniture industries. In 2021, it achieved a turnover of EUR 27m. PET Baltija is engaged in the recycling of polyethylene terephthalate in the Northern European market. It belongs to the Eco Baltia Group, whose unaudited revenue for 2021 was EUR 150m.

Compiled by the team of CzechTrade office in Latvia (Lithuania, Estonia).
Source: ČIA News