Indorama Ventures Expands PET Recycling Capabilities with Acquisition of Sorepla

Information Technology Press Releases Wednesday August 1, 2018 11:31
Bangkok--1 Aug--Indorama Ventures
Enhances capability to drive closed loop solutions and embraces the Circular Economy
Expands IVL's capabilities and gains scale to serve increasing demand for rPET
Enhances supply chain synergies for our Recycled Fiber business

Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced that it has entered into an agreement to acquire Sorepla Industrie S.A., a plastics recycling facility in France. Founded in 1991, Sorepla Industrie is one of the largest recyclers in Europe. The facility consists of three production lines; Recycled Polyethylene Terephthalate (rPET), Recycled High Density Polyethylene (rHDPE) and food-grade Pellets, with a combined capacity of 52,000 tonnes/annum. Regardless of the fluctuations in the quality of post-consumer feedstock, Sorepla can offer consistently high quality recycled PET material that meet customers' specific needs in Packaging and Fibers. The company employs a total of 58 employees.

This acquisition is strategically in line with the Company's objectives of long-term sustainability. The addition of Sorepla will further solidify IVL's position as one of the leaders in recycling in Europe and opens up new opportunities to serve increasing demand for food grade rPET. While IVL has a significant recycling presence in France through its subsidiary, Wellman France Recyclage in Verdun, the acquisition of Sorepla gives the Company additional capabilities to deliver food grade rPET to serve increasing demand among major brand owners for more sustainable packaging solutions. Due to Sorepla's proximity to our existing recycling business, synergies of management and supply chain are expected to benefit IVL businesses.

rPET resin is widely used for food and beverage packaging as well as fiber applications in Europe, a sector in which IVL holds a leadership supplier position. The demand for food-grade rPET in Western Europe is expected to grow at a CAGR of 7% from 2018-2021, and is currently outstripping supply. 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. Recycled PET is well-known to be hygienic and is approved for food-contact applications in most countries around the world.

Commenting on the acquisition, Mr. Aloke Lohia, Group CEO of Indorama Ventures said, "Indorama Ventures plays a key role in promoting the circular economy and environmental sustainability globally. We believe that the recycling of PET packaging is one of the most responsible solutions for the preservation of resources and the reduction of PET containers in landfills. Indorama Ventures is playing its part and investing in recycling solutions globally.

With a comprehensive European network for bottle sourcing and good supply chain efficiencies, we feel that this acquisition will contribute as an attractive platform for strong future growth in the sustainable recycling business with the potential to expand globally."

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 North America. 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. 15,000 employees worldwide and consolidated revenue of US$ 8.4 billion in 2017. The Company is listed in the Dow Jones Sustainability Index (DJSI).


Latest Press Release

Hole in the eWallet: Mobile Payment Apps Face Significant Challenges Engaging, Retaining Users, Shows CleverTap Benchmark Report

With 77 percent average churn, immediate value and superior customer experience become critical competitive differentiators Mobile marketing engagement and analytics platform CleverTap today released its latest Industry Benchmarks for Mobile Payment...

Botlight an inspirational success

Bosch Thailand establishes a learning mechanism to build vocational skills for underprivileged hill-tribe youth to earn an income and increase their self-reliance Bosch joins hands with the Fine Arts Faculty at Chiang Mai University to enhance a dynamic...

Get the Samsung Galaxy J6 Plus with a TrueMove H post-paid SIM card for the best price of 3,270 baht, now available exclusively at 7-Eleven

TrueMove H, Asia Pacific's best 4G network with nationwide high-speed connectivity, led by Mr. Tuantong Srivichian (second from left), Director for Retail Business, True Corporation Public Company Limited, in collaboration with 7-ELEVEN, led by Ms. Malee...

Infineon first chipmaker to be named Partner of The Year by Hyundai for cooperation in electro-mobility

Semiconductors are a key enabler for electro-mobility: Hyundai Kia Motors Company named Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) "Partner of the Year 2018" for providing power modules used in hybrid and electric cars. Infineon is the first...

40 students compete in the IT One Experience, IT Ones 8th business case competition

Top students team up in the IT One Experience business case competition winning more than 150,000 baht Student teams from eight leading Thai universities participated in this year's competition. IT One held its eighth annual one-day "IT One...

Related Topics