Indorama to Buy Alabama PET Recycler
Company expands its multiple footprint in recycling to the U.S.
Thailand’s Indorama Ventures (IVL; U.S. office in Asheboro, N.C.) has signed an agreement to acquire a recycling facility from Custom Polymers PET, Athens, Al.
The company entered the recycling business in 2011, with production facilities that transform post-consumer PET bottles into flakes, rPET resins and recycled polyester yarns in Europe, Mexico and Thailand. The Alabama facility—which marks the company’s first U.S. recycling venture--consists of two production lines: one for rPET flake and another for food-grade rPET pellets, with a combined capacity of 68.3 million lbs/year.
According to a company statement, this acquisition will enhance IVF’s capability to drive “closed loop sustainable solutions” while embracing the circular economy. “The acquisition of this recycling facility from Custom Polymers will allow IVL to have a secured supply of rPET flake and food-grade 100% rPET pellets in the US, and this will open up new opportunities to meet the ever increasing food grade rPET demand for more sustainable packaging solutions by major brand owners.”
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