Chemical maker Indorama acquires California PET recycler Green Fiber International
The purchase is designed to boost Indorama's recycling capabilities on the West Coast.
In a move to beef up its recycling capabilities, global chemical manufacturer Indorama Ventures Public Co. Ltd. has acquired Green Fiber International Inc. (GFI), a recycling company in Fontana, Calif.
The financial terms of the deal have not been disclosed.
GFI’s Fontana plant produces recycled polyethylene terephthalate (rPET) flakes. The acquisition has a combined capacity of 40,000 tonnes per year.
In a statement, Indorama said that GFI has been supplying rPET bottle flakes for food contact to the U.S. West Coast packaging market since 2018.
“This acquisition extends [our] recycled flake supply chain to the West Coast, allowing us to further support the efforts of our customers in the water and soft drinks industry to ensure that PET bottles are recycled and put to further use, thus ensuring the creation of a circular economy,” Indorama said.
Indorama is a leading producer in the intermediate petrochemicals industry and a global manufacturer of wool yarns. The company is headquartered in Bangkok and started its operations in 1994.