- 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
Bangkok, Thailand – 24 December 2018 – 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."
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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|
Tel: +662.661.6661 ext. 680
Tel: +662.661.6661 ext. 247
This document contains “forward-looking statements” about the financial condition and results of operations of Indorama Ventures Public Company Limited (the “Company”), which are based on management’s current beliefs, assumptions, expectations and projections about future economic performance and events, considering the information currently available to the management. Any statements preceded by, followed by or that include the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “plans”, “could”, “should, “predicts”, “projects”, “estimates”, “foresees” or similar expressions or the negative thereof, identify or signal the presence of forward-looking statements as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future or likely performance of the Company.
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