The acquisition is strategically in-line with the IVL’s long-term sustainability objectives and will complement IVL’s PET business in Brazil
Indorama Ventures Public Company (IVL) would like to inform that it has, through its indirect subsidiary Indorama Ventures Polimeros, acquired 100% equity stake of AG Resinas, a limited liability company incorporated under the laws of Brazil and completed the transaction on June 8, 2020.
AG Resinas is a PET recycling facility in Juiz de Fora, Braziland processes post-consumer PET into Recycled Polyethylene Terephthalate (rPET) flakes and pellets with a combined capacity of approx. 9,000 tonnes/annum. The facility is close proximity to a large supply of recovered PET bottles, bringing benefits through logistics advantage.
This acquisition is strategically in-line with the IVL’s long-term sustainability objectives and will complement IVL’s PET business in Brazil and provide a unique opportunity to create an immediate recycling presence with further expansion opportunity.
The value of the above acquisition, calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, as prescribed by the regulations of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (as amended), is less than 15 percent and the total size of all transactions in the past 6 months also does not exceed the 15 percent threshold limits as prescribed in the regulations.
Source: Company Press Release