Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) CEO Aloke Lohia told Reuters in an interview that the Thai PET giant is committed to spending USD 1 bn on recycling over the next five years, which will include mergers and acquisitions focused on PET bottle recycling.
The company entered the recycling business in 2011 with the acquisition of Wellman International in Europe (see Plasteurope.com of 23.09.2011). IVL says its recycling capacity is the largest in Europe, with plants located in France, Ireland and the Netherlands. It also has recycling facilities in Mexico, Thailand and the US. Post-consumer PET bottles are reprocessed into rPET flakes, resins and yarns. In 2018, Indorama created a 50:50 joint venture with chemical recycling specialist Loop Industries (Terrebonne, Québec / Canada; www.loopindustries.com see Plasteurope.com of 04.10.2018).
Lohia also said IVL has USD 2.5 bn of uncommitted capital for new projects in its other businesses, including olefin, fibres and feedstocks. The company recently made a deal to buy Huntsmans (The Woodlands, Texas / USA; www.huntsman.com) chemical intermediates businesses for about USD 2.1 bn, including its Texas-based plants at Port Neches, Dayton and Chocolate Bayou, as well as sites in Ankleshwar, Gujarat / India and Botany / Australia. in Australia, India (see Plasteurope.com of 12.08.2019).
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