Indorama Ventures to Acquire PET Recycling Capabilities from Custom Polymers PET, LLC in US

Event Calendar Press Releases Monday December 24, 2018 16:23
Bangkok--24 Dec--Indorama Ventures
  • Enhances capability to drive closed loop sustainable solutions and embraces the Circular Economy
  • Expands IVL's capabilities in rPET flake and pellets to serve increasing demand for rPET
  • Enhances supply chain synergies for IVL's recycled resin business

Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced that it has entered into an agreement to acquire a PET recycling facility from Custom Polymers PET in Alabama, US. The facility consists of two production lines; Recycled Polyethylene Terephthalate (rPET) Flake and food-grade rPET Pellets, with a combined capacity of 31,000 tonnes/annum.

Regardless of the fluctuations in the quality of post-consumer feedstock, this recycling facility can offer consistently high quality recycled PET material that meets customers' specific needs in Packaging and Fibers. Indorama Ventures with Custom Polymer has important footprints in Recycling in multiple locations in Europe, in Mexico, in Thailand and now in USA.

A growing emphasis on sustainability and circular economy objectives among packaging and consumer product manufacturers is expected to be amongst the key factors driving market growth. This acquisition is strategically in line with the Company's objectives of long-term sustainability. The acquisition of this recycling facility from Custom Polymers will allow IVL to have a secured supply of rPET Flake and food-grade100% rPET Pellets in US, and this will open up new opportunities to meet the ever increasing food grade rPET demand for more sustainable packaging solutions by major brand owners. The proximity of this recycling facility to our existing polyester manufacturing entities in US, synergies of management and supply chain are expected to benefit Indorama Ventures' ability to serve our customers in North America.

Commenting on the acquisition, Mr. Aloke Lohia, Group CEO of Indorama Ventures said, "At Indorama Ventures, we intend to play a key role in promoting the circular economy and environmental sustainability by continuing to pursue the right opportunities to fill gaps that are intrinsic to our industry's sustainable and profitable business. We strongly feel that this initiative will contribute as an attractive platform for strong future growth in our commitment to sustainable recycling business with the potential to expand further with the support of our stakeholders."

About Indorama Ventures

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world's leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and Americas. The company's portfolio comprises Necessities and High Value-Added (HVA) categories of Polymers, Fibers, and Packaging, selectively integrated with self-manufactured Ethylene Oxide/Glycols and PTA where economical. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. Indorama Ventures has approx. 16,000 employees worldwide and consolidated revenue of US$ 8.4 billion in 2017. The Company is listed in the Dow Jones Sustainability Index (DJSI).

Indorama Ventures is headquartered in Bangkok, Thailand with global operating sites in
EMEA: The Netherlands, Germany, Ireland, France, UK, Italy, Denmark, Lithuania, Poland, Czech Republic, Luxembourg, Spain, Turkey, Nigeria, Ghana, Portugal, Israel, Egypt, Russia, Slovakia
Americas: USA, Mexico, Canada, Brazil
Asia: Thailand, Indonesia, China, India, the Philippines, Myanmar

Latest Press Release

Webnovel Shares New Trends In Online Publishing at London Book Fair

Webnovel, the global e-publishing arm of China Literature (0772.HK), China's leading online literature and IP incubator company, brought its original and translated publications to the London Book Fair ("the Fair"). The company also organized a speech by...

Lion Thailand celebrates the 50th warm friendship anniversary. Moving forward to its centennial with sustainability and happiness.

The half-century business journey of Lion Corporation (Thailand) Ltd. was established from the true friendship. Therefore, in "From 50 to 100 years with Sustainability & Happiness" event, the honorable guests not only came to congratulate on the...

CP Vietnam strongly bolsters Hanoi to fight against ASF

C.P. Vietnam Corporation (CP Vietnam) has collaborated closely with the Vietnam Government to work in every practices to stop African Swine Fever (ASF) outbreak which farm knowledge and management have implemented to raise awareness among farmers and...

Teerawut Supapunpinyo, the latest MD for Brother Commercial (Thailand), is ready to lead with the new concept #Towards the next level, expand growth, and handle present and future challenges.

Brother Commercial (Thailand) Limited recently appoints 'Mr. Teerawut Supapunpinyo' as a managing director to strengthen the management team, implement the new concept 'Towards the next level' to achieve business growth against the current sluggish...

SWAROVSKI CRYSTAL SOCIETY CELEBRATES THE SCS ANNUAL EDITION 2019 WITH THE SPARKLING CRYSTAL AMUR LEOPARD

SWAROVSKI CRYSTAL SOCIETY CELEBRATES THE SCS ANNUAL EDITION 2019 WITH THE SPARKLING CRYSTAL AMUR LEOPARD : Leading global jewelry brand, Swarovski, hosted the SCS Annual Edition 2019 event at Grand Hyatt Erawan to exclusively launch the SCS Annual...

Related Topics