Indorama Ventures Public Company Limited (IVL) has announced that the company has officially taken charge of the Recycled Polyethylene Terephthalate (rPET) plant in the U.S. from June 11, 2021, onward after the completion of all formalities regarding to the acquisition announced earlier on May 27, 2021, regarding the acquisition of the rPET assets of CarbonLite Holdings LLC and its subsidiaries in Texas, USA.
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.
This proposed recycling acquisition opportunity would facilitate IVL coming closer to its rPET commitment of 750 kilotons per annum by 2025.