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Indorama completes acquisition of Texas PET recycling plant in a move to increase rPet capacity

June 16/2021

MOSCOW (MRC) -- Indorama Ventures (IVL), a global petrochemicals producer, has completed its acquisition of CarbonLite Holdings’ facility in Texas as part of the company’s commitment to increasing polyethylene terephthalate (PET) recycling capacity, according to Hydrocarbonprocessing.

Now known as Indorama Ventures Sustainable Recycling (IVSR), the Dallas site is one of the largest producers of food-grade recycled pellets (recycled PET or rPET) in the US, with a combined capacity of 92,000 tons annually. The facility will recycle more than 3 billion PET plastic beverage bottles per year and support more than 130 jobs directly. IVL is the world’s largest producer of recycled PET for beverage bottles. With this acquisition, IVL expands its US recycling capacity to 10 billion beverage bottles a year, towards its global target of recycling 50 billion bottles (750,000 metric tons) annually by 2025.

Thailand-based Indorama Ventures entered the US PET market in 2003. In 2019, the company acquired recycling facilities in Alabama and California, bringing a circular business model to its US operations. The new acquisition in Texas allows IVL to better serve customers’ increasing need for recycled PET for beverages. America’s leading beverage companies have launched the ‘Every Bottle Back’ project to support the circular plastics economy by reinforcing the value of their fully recyclable PET bottles among consumers.

As MRC reported previously, earlier this month, Indorama Ventures Public Company Limited started developing a new technology center under its Integrated Oxides & Derivatives (IOD) business at The Woodlands, Texas. The new facility will be the company’s US research and development hub for new products used in the home, personal and industrial cleaning, agrochemicals, energy, lubricants, mining, and coatings markets.

According to MRC's ScanPlast report, Russia's estimated PET consumption grew to 263,660 tonnes in the first four months of 2021, up by 13% year on year. Bottle grade PET chips accounted fro 78.3% of the increase in consumption due to the virtual absence of exports and higher imports.

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 Pacific, Europe and Americas. The company’s portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments. Indorama Ventures has approx. 24,000 employees worldwide and consolidated revenue of US$ 11.4 billion in 2019. The Company is listed in the Dow Jones Emerging Markets and World Sustainability Indices (DJSI).


mrcplast.com
Author:Margaret Volkova
Tags:PET-granulate, recikling, packaging, PET bottles, Indorama Ventures PLC, USA.
Category:General News
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