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PET giant Indorama buys recycling facility in Brazil

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PET giant Indorama buys recycling facility in Brazil

Thailand-headquartered Indorama Ventures (IVL) has announced that it has completed its acquisition of a 100% equity stake in AG Resinas Ltda. Source: Sustainable Plastics

IVL closed the deal 8 June. This acquisition is strategically in-line with the IVL’s long-term sustainability objectives and will complement IVL’s PET business in Brazil. The company said it would ‘provide a unique opportunity to create an immediate recycling presence with further expansion opportunity’.

AG Resinas, a PET recycling facility in Juiz de Fora, Brazil with a capacity of some 9,000 tonnes/annum, processes post-consumer PET into recycled polyethylene terephthalate (rPET) flakes and pellets. In terms of logistics, the facility has the advantage of being located in close proximity to a large supply of recovered PET bottles.

Indorama entered the recycling business in 2011. The company has established recycling facilities at strategic locations across the globe. One of the most recent projects is a collaboration with Coca-Cola Beverages Philippines, the bottling arm of Coca-Cola in the country. The companies signed a joint-venture agreement to establish PETValue, the largest bottle-to-bottle recycling facility in the Philippines. The value of the above acquisition as prescribed by the regulations of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (as amended), is less than 15 percent and the total size of all transactions in the past 6 months also does not exceed the 15 percent threshold limits as prescribed in the regulations.



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