Bangkok-based Indorama Ventures Public Co. Ltd. (IVL) has entered into an agreement to acquire France-based plastics recycler Sorepla Industrie S.A. Sorepla, with a capacity of 52,000 metric tons per year, produces recycled polyethylene terephthalate (rPET), recycled high density polyethylene (rHDPE) as well as food grade pellets. IVL reports the“acquisition is strategically in line with the company’s objectives of long-term sustainability.”
“Indorama Ventures plays a key role in promoting the circular economy and environmental sustainability globally,” said Aloke Lohia, Group CEO, Indorama Ventures. “We believe that the recycling of PET packaging is one of the most responsible solutions for the preservation of resources and the reduction of PET containers in landfills. Indorama Ventures is playing its part and investing in recycling solutions globally. With a comprehensive European network for bottle sourcing and good supply chain efficiencies, we feel that this acquisition will contribute as an attractive platform for strong future growth in the sustainable recycling business with the potential to expand globally.”
September/October 2018
