Latvian investment aims to boost rPET supply - sportstextiles: Lea SportsTextiles

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Latvian investment aims to boost rPET supply

01/09/2022
Latvian polyethylene terephthalate (PET) recycling firm PET Baltija has announced plans to purchase Silon spin-off Tesil Fibres, a Czech fibre producer that specialises in manufacturing recycled PET (rPET) products from post-consumer plastic bottles. 

PET Baltija’s revenues are expected to more than double following the merger. The deal will also take the Latvian company international. Last year, Tesil Fibres registered sales of €27 million ($27 million).

Chairman of the board at PET Baltija, Salvis Lapins, emphasised the “impressive high-growth potential” of the acquisition and revealed plans to further diversify Tesil Fibres’ product offer. He also pointed to how guaranteeing the manufacturer’s supply of rPET will “significantly” support its growth and help to increase the volume of rPET available on the market generally.

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