Indorama Ventures buys PET recycling facility in Poland
The IMP Polowat production sites have a combined capacity of 23,000 tonnes of rPET flakes and 4,000 tonnes of rPET pellets.
Thailand-based chemical producer Indorama Ventures Public Co. Ltd. is acquiring Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat), a PET recycling facility in Poland.
The acquisition consists of two assets, Indorama officials said in a statement, located in Bielsko-Biala and Leczyca, close to the major population centers of Kraków and Warsaw. The production sites have a combined capacity of 23,000 tonnes of recycled polyethylene terephthalate (rPET) flakes and 4,000 tonnes of rPET pellets.
The company has approximately 118 employees.
The terms of the deal have not been disclosed; the acquisition is expected to close in the third quarter of 2020.
“IMP Polowat has a solid presence as one of the leading PET recyclers in Poland,” the Indorama statement said. “This acquisition is consistent with IVL’s ambitious target in scaling its recycling capacity to reach 750,000 tonnes by 2025. It also adds an attractive recycling platform for IVL in Eastern Europe, and will open up new opportunities to meet the increasing rPET demand for more sustainable packaging solutions. The combination of access to local bottle supply and trusted product quality will secure opportunity for IVL for growth and expansion over time.”
Indorama officials describe Poland as “a strategic market” for the company. “With 260,000 tonnes of PET bottle consumption in Poland, and active discussion about a Deposit Return Scheme and improved collection, there is a significant opportunity to increase capacity and capitalize on the growing demand for rPET,” the statement said.
According to Yashovardhan Lohia, executive director and head of sustainability of Indorama, the company’s ties to the Polish market go back to 2011, when it acquired an integrated PET asset in Wloclawek. “With the acquisition of IMP Polowat we are adding a recycling facility to bring synergies and a circular business model to our Polish operations,” Lohia added.