Canadian Plastics

Indorama Ventures acquires PET recycling facility in Brazil

AG Resinas is headquartered in the city of Juiz de Fora, and processes post-consumer PET into recycled polyethylene terephthalate flakes and pellets.

June 10, 2020   Canadian Plastics

Thailand-based chemical maker Indorama Ventures Public Company Limited (IVL) announced that it has, through its indirect subsidiary Indorama Ventures Polimeros S.A., acquired 100% equity stake in AG Resinas Ltda., a PET recycling facility in Brazil.

The transaction was completed on June 8, IVL said in a statement.

Financial terms of the acquisition have not been disclosed.

“AG Resinas is a PET recycling facility in Juiz de Fora, Brazil, and processes post-consumer PET into recycled polyethylene terephthalate (rPET) flakes and pellets with a combined capacity of approximately 9,000 tonnes/annum,” IVL said in a statement. “The  facility is in close proximity to a large supply of recovered PET bottles, bringing benefits through logistics advantage.”

The acquisition is strategically in-line with the IVL’s long-term sustainability objectives and will complement its PET business in Brazil, the statement added.


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