IMP Polowat’s production sites hold a combined capacity of 23,000 tonnes of recycled rPET flakes and 4,000 tonnes of rPET pellets
Indorama Ventures Public Company (IVL) has agreed to acquire Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat), which is a PET recycling facility in Poland.
Under the deal, Indorama will purchase two assets that are strategically situated in Bielsko-Biala and Leczyca. These assets are situated near to the major population centers of Kraków and Warsaw.
IMP Polowat’s production sites, which are supported by 118 employees, hold a combined capacity of 23,000 tonnes of recycled Polyethylene Terephthalate (rPET) flakes and 4,000 tonnes of rPET pellets.
Subject to regulatory approvals, the acquisition is expected to be completed in the third quarter of this year.
The acquisition is part of Indorama’s strategy to expand its recycling capacity
The acquisition is part of Indorama’s strategy to advance its recycling capacity to achieve 750,000 tonnes by 2025.
The acquisition will also add an advanced recycling platform for IVL in Eastern Europe, as well as enables to meet increasing rPET demand for more sustainable packaging solutions.
Indorama began operations in Poland in 2011 with the acquisition of an integrated PET asset in Wloclawek.
Indorama Ventures sustainability head and executive director Yashovardhan Lohia said: “We are pleased to continue to execute on our growth strategy of pursuing strategic acquisitions even during this unprecedented time. IMP Polowat represents a strategic fit for us.”
“IVL is fully committed to its strategy and its role in addressing the issue of plastic waste and enhancing the circularity of PET. We continue to make good progress and remain confident in achieving our ambitious 2025 target to recycle at least 50 billion bottles per year, and investing US$ 1.5 billion to achieve this by 2025.”
In March this year, Coca-Cola Beverages Philippines (CCBPI) signed a joint-venture agreement with Thailand-based Indorama Ventures to establish a bottle-to-bottle recycling facility in the Philippines.