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Indorama Ventures Enters into Licensing Agreement with Toyobo Exclusive Use of Toyobo’s Eco-friendly Catalyst for its PET Resin Production Globally
Sep 25, 2017
Bangkok, Thailand – 25 September 2017 – Indorama Ventures Public Company Limited (IVL), a global chemical producer, and Toyobo, announced a license agreement that provides IVL with rights to Toyobo’s aluminum catalyst technology for the production of PET resin. Under the terms of the license and agreement, IVL may use this polymerization technology in its manufacture of PET resin globally through a Tokyo-based sales agent, Iwatani Corporation.

PET resin production requires raw materials and a catalyst to facilitate a polymerization reaction. Conventionally, a heavy metal or rare metal compound has been used as a catalyst. TOYOBO GS Catalyst® was developed in 2002 as sustainable way forward. Furthermore, the aluminum catalyzed PET resin is easy to recycle, contributing to a reduction of the environmental impact. Indorama Ventures has started manufacturing PET resin with TOYOBO GS Catalyst® for beverage bottles for Suntory Holdings Limited.

Mr. Dilip Kumar Agarwal, CEO of Feedstock and PET Business of Indorama Ventures, commented “We have been very pleased with the success to-date of our strong partnership with Toyobo, and are excited to extend the collaboration to this specific polymerization technology. We believe this agreement will enable IVL to offer our customers what we believe to be an industry-leading solution, and respond to growing interest in sustainable products. The technology delivers many expected benefits, including excellent transparency, thermal stability and recyclability, thus making our products more competitive in the market.”

“Toyobo is one of our closest partners. This collaboration shows the commitment from both parties to creating great products that will contribute to a better future for society, and will strengthen IVL’s position as a preferred, sustainable supplier of PET. We look forward to continuing this successful and trusted partnership”, Mr. Agarwal concluded.

Indorama Ventures has a long-established relationship with Toyobo since its first joint acquisition of PHP Fibers GmbH, a Germany-based manufacturer of filament yarns for airbags in 2014, and extending to the joint venture Bicomponent Fiber plant at Indorama Polyester Industries in Rayong, Thailand in 2015.