JELGAVA – PET Baltija, a leading European PET (Polyethylene Terephthalate) recycler, has acquired Czech textile producer Tesil Fibres in a bid to vertically integrate the two’s operations and increase the availability of recycled materials.
Tesil Fibres, a spin-off of the Planá-based Silon Group, is said to boast annual production capacities of 33,000 tonnes and last year recorded sales of €27 million (US$27m).
Salvis Lapiņš, chairman of the board at PET Baltija, commented: “By ensuring the supply of best-in-class recycled PET materials, we will look to significantly contribute to the growth of the Tesil Fibres business and add greater product differentiation to it. It is also important to mention that through these developments, the overall volume of recycled PET will also increase.”
