Thailand’s chemical maker Indorama Ventures (IVL) on Monday announced that it had completed the acquisition of a polyethylene terephthalate (PET) recycling capacity in Dallas, Texas, from CarbonLite Holdings. The acquired facility is now named Indorama Ventures Sustainable Recycling (IVSR). It recycles post-consumer PET plastics into food-grade recycled PET (rPET) pellets. The plant can recycle 3 billion PET plastic beverage bottles per year to produce 92,000 tons of rPET pellets. The acquisition expands IVL’s recycling capacity in the US to 750,000 tons/year, equal roughly to 50 billion bottles.
IVL entered the US PET market in 2003 and began incorporating a circular business model in 2019 by acquiring recycling facilities in Alabama and California. The plant in Texas will enable IVL to improve its ability to serve growing customers’ demand for rPET. American beverage producers have announced plans to increase recycled contents in their bottles to support the circular plastics economy. An official with IVL added that the Dallas facility could support more than 130 jobs.
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Published on June 15, 2021 10:36 AM (GMT+8)Last Updated on June 15, 2021 10:36 AM (GMT+8)
