Indorama Ventures Public Co. Ltd. announced that it has, through its indirect subsidiary Indorama Netherlands B.V., signed a Conditional Share Purchase Agreement on August 3rd with O.R.V. Ovattificio Resinatura Valpadana S.P.A. and Opoka Ltd., to acquire a 100% equity stake of Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat) of Poland.
IMP Polowat consists of two production sites located in Bielsko-Biala and Leczyca, and processes post-consumer PET into recycled polyethylene terephthalate (rPET) flakes and pellets, with a combined capacity of approx. 27,000 ton/year, consisting of 23,000 tons rPET flakes and 4,000 tons of rPET pellets.
These facilities will be an attractive recycling platform for IVL in Eastern Europe, and will open up new opportunities to meet growing rPET demand for more sustainable packaging solutions. The combination of access to local bottle supply and trusted product quality will secure opportunities for IVL for growth and expansion over time.
The acquisition is consistent with IVL’s ambitious target in scaling its recycling capacity to reach 750,000 tons by 2025.
This transaction is expected to be completed in the third quarter of 2020, subject to regulatory approvals.