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Published: 2023-03-23 14:41:21 CET
Eco Baltia
Company Announcement

Eco Baltia's Czech polyester fibres producer TESIL Fibres appointed new CEO and Supervisory Board Members

The largest environmental management and recycling group in the Baltics, AS Eco Baltia, has appointed Jiří Novák as the Managing Director for its subsidiary company in the Czech Republic, TESIL Fibres, starting from March 1st this year. To strengthen corporate governance, changes have been made to the company’s Articles of Association to establish four-member Supervisory Board of TESIL Fibres.

The newly established Supervisory Board of TESIL Fibres includes Salvis Lapiņš as Chairman, Māris Simanovičs as Deputy Chairman, and Justas Bučelis and Matīss Leitis as members. All Supervisory Board members represent the shareholders of the company. S.Lapiņš is the Chairman of the Board at TESIL Fibres parent company PET Baltija, M.Simanovičs is the Chairman of the Board at Eco Baltia, J.Bučelis is Senior Associate at INVL Baltic Sea Growth Fund, while M.Leitis is the Board Member and CFO at PET Baltija.

We are delighted to welcome Jiří Novák as the new CEO of TESIL Fibres. He brings with him impressive experience and expertise in manufacturing and business management, which will be invaluable to strengthen TESIL Fibres production capacity and expansion into new markets. Only six months ago PET Baltija completed acquisition of the TESIL Fibres and this was busy period for all the team to ensure smooth transition process. By strengthening the management team and corporate governance structure we aim to improve business performance in more strategic way to cope with market situation,as well as challenges coming together with our company growth ambitions and take advantage of opportunities arising from the shift toward a circular economy, says Chairman of the Board at Eco Baltia and Deputy Chairman of the Supervisory Board at TESIL Fibres Māris Simanovičs.

J. Novák is experienced professional in manufacturing and engineering, having worked in various leadership roles for over 30 years. He holds a degree in Machine Building from the University of Mechanical and Electrical Engineering in Plzen, Czech Republic. Prior to joining TESIL Fibres, Novák served as the plant director at HOCHTIEF Plc from 2021 to 2023. Before that, he was the Managing Director and CEO at Linberg Ltd. from 2016 to 2021. He has also held senior management roles in MABA Prefa Ltd., MABA Eurobeton Ltd., ACO Industries Tábor Ltd. and at Jihotvar.

J. Novák, CEO at "Tesil Fobres", said: “I am excited to join TESIL Fibres and Eco Baltia at such an exciting and challenging time. One of my key focusses will be to conclude the transition and integration process in Eco Baltia group and ensure that company achieves business goals, greater results and improves profitability. Likewise, the strategic task is to increase production of TESIL Fibres to full capacity and expand in the new markets to bring more value to our customers, employees, shareholders and also society.”

Changes in the TESIL Fibres management team are registered in the Czech Commercial Register on March 22.

PET Baltija, one of the leading Polyethylene Terephthalate (PET) recyclers in Northern Europe, completed the acquisition of 100% of shares of TESIL Fibres in September 2022. TESIL Fibres is the Czech Republic’s largest producer of PET fibre with 150 employees and an annual capacity of 33 000 tones, reaching revenues of €27 million in 2021. 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.

About PET Baltija (https://www.petbaltija.lv/en/) and Eco Baltia (https://ecobaltia.lv/en/):

PET Baltija is one of the largest Polyethylene Terephthalate (“PET”) recyclers in Northern Europe and the largest PET recycler in the Baltic region operating in Latvia. It belongs to Eco Baltia, the largest environmental and waste management group in the Baltics. Eco Baltia provides full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing. PET Baltija implements the recycling of used polyethene terephthalate (PET) bottles and is the industry leader on the Baltic scale. The recycled product portfolio includes high-quality PET flakes and granules (including food packaging), of which nearly 100% are exported.

In the first nine months of 2022, the Eco Baltia group reached its highest consolidated net turnover up to date – €154.9 mn. Consolidated net turnover almost doubled, compared to first 9 months of 2021, when consolidated net turnover was €78.5 mn. In September 2022, the group expanded its operations outside of the Baltics, with its PET recycling arm AS PET Baltija, one of the largest PET recyclers in Northern Europe, completing the acquisition of a leading Czech fibre producer TESIL Fibres. In January 2023 Eco Baltia also completed acquisition of Latvian street and road maintenance company Pilsētas Eko Serviss.

The group companies employ more than 2,300 employees in Latvia, Lithuania, and Czech Republic. Its leading companies are PET Baltija, Eco Baltia vide, Pilsētas Eko Serviss, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Czech TESIL Fibres and Lithuania-based Ecoservice. 

Shareholders of Eco Baltia are private equity fund INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and management of the company (16.68%). 

         Additional information:
         Daiga Buča
         Head of Public Relations
         Eco Baltia
         Phone no. +37126588715