Thailand’s Indorama signs deal to buy PET recycling plant in US
by ChemOrbis Editorial Team - content@chemorbis.com
According to a press release, Thailand’s Indorama Ventures (IVL) has signed a definitive asset purchase agreement with the US-based Custom Polymers PET on December 21 to acquire the company’s PET recycling facility in Alabama, the US.
Custom Polymers PET’s facility consists of an rPET Flake line and a food-grade rPET Pellets line, with a combined capacity of 31,000 tons/year. The facility will be in close proximity to the Thai company’s subsidiary AlphaPet Inc.’s 450,000 tons/year PET plant, the press release stated.
The acquisition, which is expected to be completed by the beginning of 2019, will allow Indorama to have a secured supply of rPET Flake and food-grade 100% rPET Pellets to serve its customers in North America.
Custom Polymers PET’s facility consists of an rPET Flake line and a food-grade rPET Pellets line, with a combined capacity of 31,000 tons/year. The facility will be in close proximity to the Thai company’s subsidiary AlphaPet Inc.’s 450,000 tons/year PET plant, the press release stated.
The acquisition, which is expected to be completed by the beginning of 2019, will allow Indorama to have a secured supply of rPET Flake and food-grade 100% rPET Pellets to serve its customers in North America.
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