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.
About Ecoservice:
Ecoservice is a Lithuanian environmental management company providing services such as collection, management and sorting of municipal, packaging, green, construction, demolition and bulky waste, as well as pavement, urban and road maintenance services.
The turnover of the group in 2022 was almost EUR 56 million. The company is 100% owned by Eco Baltia vide, part of the environmental and waste management group Eco Baltia AS.
About Eco Baltia
Eco Baltia group is the largest environmental and waste management group in the Baltics, providing the full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing as well as PET and PE/PP plastics recycling.
Eco Baltia group has closed 2022 with its historically highest consolidated turnover of EUR 210 million, representing a 75% increase compared to 2021. Total combined sales revenue (pro-forma) in 2022 amounted to 240.5 million euro.
The group companies employ around 2,300 employees in Latvia, Lithuania, and Czech Republic. Its leading companies are PET Baltija, Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Pilsētas Eko Serviss, 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 Māris Simanovičs (16.68%).
Additional information:
Alise Zvaigzne
Public Relations Project Manager
Eco Baltia
Phone +371 28780467
alise.zvaigzne@ecobaltia.lv
www.ecobaltia.lv
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