Bangkok, Thailand – 25 October 2019 – Indorama Ventures Public Company Limited (IVL), a global chemical producer, is proud to announce its commitment as part of the New Plastics Economy to help create a world where plastic never becomes waste. The company is now accelerating its efforts in support of a very ambitious goal to increase recycled content volumes by at least 750,000 tonnes, while also recently pledging US$ 1.5 billion towards achieving this target by 2025.
Indorama Ventures is among 400 organizations that committed to eliminate problematic plastic packaging, and increase the use of recycled plastic in packaging. The New Plastics Economy Global Commitment calls on companies and governments to innovate solutions enabling plastic to be 100% reusable, recyclable, or compostable. The Ellen MacArthur Foundation and the UN Environment Programme have released the first New Plastics Economy Global Commitment progress report, which reveals signatories’ efforts to manage plastic waste and pollution.
IVL wishes to invest globally in the circular economy and in new technologies that can steer further its aspiration of being a world-class chemical company making great products for society. The Company announced a joint venture with Loop Industries aimed at commercializing their chemical recycling technology for sustainable PET packaging resin and Polyester fibers. In June 2018, the Company has also unveiled its partnership with Ioniqa Technologies, together with Unilever Europe, to unlock the potential of PET recycling with ground-breaking technology to pioneer a new approach to processing PET waste as renewed feedstock for virgin PET.
In March 2019, IVL commenced commercial production and marketing of 100% rPET pellets made from post-consumer recycled PET bottles in Europe. Also in 2019, IVL will begin manufacturing rPET resin utilizing chemically recycled PCR PET feedstock, displacing fossil materials. Full-scale production of 10,000 tonnes per annum of feedstock from recycled PET is expected Q4 2019. Indorama Ventures Sustainable Solutions (IVSS), in the USA, can produce 30,000 tons of rPET Flakes and 10,000 tons of rPET chips, adding significantly to IVL's global recycling portfolio.
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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 Integrated PET, Fibers, Packaging, Specialty Chemicals and Olefins. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. Indorama Ventures has approx. 19,000 employees worldwide and consolidated revenue of US$ 10.7 billion in 2018. 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, Austria|
|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. Results given here are “Core”, which means excluding inventory gain/losses and one-time extraordinary items.