IVL Acquires rPET Assets in the U.S., Add 92KT Capacity to Its 750KT Target by 2025

Indorama Ventures Public Company Limited (IVL) has announced that in connection with an auction conducted pursuant to the authority of, and governed by the rules established by, the Bankruptcy Court in the District of Delaware, USA, IVL has been selected as the winning bidder to acquire the Recycled Polyethylene Terephthalate (rPET) assets of CarbonLite Holdings LLC and its subsidiaries in Texas, USA (collectively referred to as “CarbonLite”).

 

CarbonLite is a significant rPET producer in the USA (currently under Chapter 11 of the United States Bankruptcy Code) with long standing relationships with major brands. The assets to be acquired are located in Dallas, Texas, USA with a combined capacity of approx. 92 kilotons per annum, consisting of 48 kilotons of rPET pellets and 44 kilotons of flakes.

 

IVL stated that this proposed recycling acquisition opportunity would facilitate the company coming closer to its rPET commitment of 750 kilotons per annum by 2025.

 

The closing of the transaction is expected to be completed within 2Q21 and is subject to conditions precedent including approval by the applicable bankruptcy court and governmental authorities.