Category: Uncategorized

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Eco Baltia Group’s Lithuanian company Ecoservice investing €18 million to rebuild a sorting centre
UAB Ecoservice, the Lithuania-based waste management company of Eco Baltia, the largest environmental management and waste recycling group in the Baltics, is investing €18 million in the rebuilding the Vilnius Sorting Centre, which was devastated by a fire last year. The investment will also be used to improve the infrastructure of the sorting centre and modernise it to contribute more to the circular economy. The expected completion date for the project is the end of this year.

“We have made the decisions that were necessary for our company’s continued leadership, growth and next steps. After the fire that occurred last August, we immediately took action that helped us to continue our operations without interruptions and followed through on all our commitments to our clients and partners. Now is the time for us to take the next step; namely, to not only restore what was lost, but also to work more effectively by implementing the latest technologies and to improve fire safety,” said Jurgita Nacevičienė, CEO of Ecoservice.

Part of the investment is planned to be financed by UAB Ecoservice and its parent group companies and part by a bank loan.

“Our priority is to provide highest quality services to our clients in Lithuania and in other countries where we operate. We also aim to streamline production processes thereby contributing to the Group’s faster development in the international market. With a long-term perspective in mind, we have decided to finance the reconstruction of our sorting centre in Vilnius, which was damaged by the fire, so that the company can improve its waste collection and sorting processes in Lithuania and maintain a successful operation,” said Māris Simanovičs, Chairman of the Board of Eco Baltia.

The total area of the Ecoservice waste sorting plants buildings is more than 3,500 square metres, while the total area of the entire sorting centre site occupies more than 3 hectares. The state-of-the-art package waste sorting equipment planned there will advance the centre’s operations, in line with the principles of the circular economy, by reducing the waste of resources and maximising the return of materials to the market for re-use. Improving the existing engineering infrastructure will help to ensure compliance with the strictest environmental and fire safety requirements.

Eco Baltia Extraordinary Shareholders’ Meeting will be held on 3 April

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The Extraordinary General Meeting of Shareholders of Eco Baltia, the largest environmental resource management and recycling group in the Baltic States, will be held on 3 April 2024.

The agenda of the shareholders’ meeting includes the approval of the new wording of the company’s Articles of Association and the election of the Supervisory Board.

Shareholders may familiarize themselves with the draft resolutions to be considered at the meeting, as well submit proposals on the issues included in the agenda at the company’s office at 240-3 Latgales Street, Riga, LV-1063, starting from 19 March 2024, working days from 8:30 a.m. to 5:00 p.m. Contacts: phone +371 67409828 or e-mail address sigita.namateva@ecobaltia.lv.

The shareholders of Eco Baltia AS are INVL Baltic Sea Growth Fund through UAB BSGF Salvus (52.81%), the European Bank for Reconstruction and Development (30.51%) and Māris Simanovičs (16.68%).

PET Baltija management board changes

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On February 16, Kaspars Ezernieks, a member of the board and executive director of PET bottle recycling company JSC (AS) PET Baltija, that is part of the largest environmental resource management group in the Baltics, JSC (AS) Eco Baltia, resigned due to personal reasons. Currently, the functions of the board will be carried out by its remaining members, while the responsibilities of the executive director will be internally reassigned within the company.

Jūlija Zandersone, head of Eco Baltia Recycling Sector and Chairwoman of Management Board of JSC (AS) PET Baltija: ‘Kaspars has demonstrated a high level of professionalism in the development of the company, helping PET Baltija to become more competitive on the recycled raw materials market. As we worked together, we took significant steps towards setting up a new plant in Olaine, proving that even in a relatively short time, determination can yield positive results. I am confident that Kaspars’ energy and extensive competences will remain a valuable example for PET Baltija in the future. At the same time,we acknowledge and comprehend the choice to conclude the employment, and extend our heartfelt wishes to Kaspars for continued success in both his personal and professional endeavors..’

Having been a board member and executive director of PET Baltija since last July,
Ezernieks was in charge of the operations of the company in line with the Eco Baltia’s strategic goals. Ezernieks also managed the successful relocation of the existing PET Baltija production facility to new premises in Olaine, the implementation of the LEAN culture, the fulfilment of plans, and other duties pertaining to the company’s operation and development. Prior to that, Ezernieks had spent thirteen years in management positions, including at Stora Enso, a leading manufacturer and supplier of renewable packaging, biomaterials, wooden structures, and paper, where he was the head of the Launkalne production facility based in Latvia.

As of now, it is planned that in Ezernieks’ absence, the currently remaining members of the management board of PET Baltija – board Chairwoman Jūlija Zandersone, and board members Matīss Leitis, Dagnija Ļevčenoka, and Jekaterina Vasiljeva – will perform the functions of the PET Baltija management board.

About PET Baltija:

PET Baltija is one of the largest PET recycling companies in Northern Europe and the largest PET recycling company in the Baltic region operating in Latvia. It is majority-owned by 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 logistics, wholesale and processing of recycled materials. PET Baltia recycles used polyethylene terephthalate (PET) bottles and is an industry leader in the Baltic States. The recycling portfolio includes high quality PET flake pellets (including those suitable for food packaging), almost 100% of which are exported.