Press Release
IVL Acquire Wellman International Sustainability takes leap forward with latest acquisition
Bangkok, Thailand - 30 November 2011 - Indorama Ventures Public Company Limited (IVL), the world's leading vertically integrated Polyester Value Chain producer, today closed the deal to acquire Wellman International's recycling business in Europe from AURELIUS AG. Wellman International is Europe's largest recycler of PET (polyethylene terephthalate) bottles as well as a leading European producer of polyester staple fiber products and rPET.
The deal, which was first announced in September 2011, will assist IVL in pursuing its customers' sustainability needs and meet the demands of consumers for more recycling of post consumer products.
The acquisition of the businesses of Wellman International Limited and its related company, MJR Recycling BV is expected to take IVL much closer to its objectives of long-term sustainability and an overall lowering of the Company's impact on the environment globally through the use of proven recycling technology and the potential for a technology transfer to the Company's Asian assets with a reduced learning curve.
On behalf of Indorama Ventures, Group CEO Mr. Aloke Lohia said, "The key for us to this acquisition is the ability to continuously serve our customers' own sustainability goals by making recycled PET (rPET) available to them. End-use consumers will also feel more confident that the low-cost packaging and fiber-based materials that are part of their daily lives have not only a lower carbon footprint but contribute to the collection of waste from our streets. I see the possibility for Indorama Ventures to move towards being a ‘zero waste' company with lower dependence on upstream carbon based feedstocks."
Wellman International has three production facilities in Europe with over 153,000 tons of output each year: a polyester fiber plant based in Mullagh, the Republic of Ireland and recycling plants at Spijk in the Netherlands and Verdun in France. The plant in Ireland is capable of converting waste polyester into 100% recycled fiber. Post Recycled Bottles (PCB) are flaked and processed with other waste material to produce bottles and fibers that can be used in a variety of premium applications.
About Wellman International Limited
Wellman International is Europe's leading producer of high quality polyester staple fibers. It manufactures high quality polyester products from recycled post consumer PET bottles. The company is Europe's largest PET recycler, processing 1.6 billion post consumer PET bottles annually. It also leads the industry in the development of new fiber technologies. Wellman International offers premium products which deliver efficient throughputs. The company has 40 years of expertise across a diverse range of markets with guaranteed service provision and technical support. It has a dedicated research and development function driving innovation.
The deal, which was first announced in September 2011, will assist IVL in pursuing its customers' sustainability needs and meet the demands of consumers for more recycling of post consumer products.
The acquisition of the businesses of Wellman International Limited and its related company, MJR Recycling BV is expected to take IVL much closer to its objectives of long-term sustainability and an overall lowering of the Company's impact on the environment globally through the use of proven recycling technology and the potential for a technology transfer to the Company's Asian assets with a reduced learning curve.
On behalf of Indorama Ventures, Group CEO Mr. Aloke Lohia said, "The key for us to this acquisition is the ability to continuously serve our customers' own sustainability goals by making recycled PET (rPET) available to them. End-use consumers will also feel more confident that the low-cost packaging and fiber-based materials that are part of their daily lives have not only a lower carbon footprint but contribute to the collection of waste from our streets. I see the possibility for Indorama Ventures to move towards being a ‘zero waste' company with lower dependence on upstream carbon based feedstocks."
Wellman International has three production facilities in Europe with over 153,000 tons of output each year: a polyester fiber plant based in Mullagh, the Republic of Ireland and recycling plants at Spijk in the Netherlands and Verdun in France. The plant in Ireland is capable of converting waste polyester into 100% recycled fiber. Post Recycled Bottles (PCB) are flaked and processed with other waste material to produce bottles and fibers that can be used in a variety of premium applications.
About Wellman International Limited
Wellman International is Europe's leading producer of high quality polyester staple fibers. It manufactures high quality polyester products from recycled post consumer PET bottles. The company is Europe's largest PET recycler, processing 1.6 billion post consumer PET bottles annually. It also leads the industry in the development of new fiber technologies. Wellman International offers premium products which deliver efficient throughputs. The company has 40 years of expertise across a diverse range of markets with guaranteed service provision and technical support. It has a dedicated research and development function driving innovation.