Indorama Ventures completes acquisition of CarbonLite’s Texas PET recycling facility
Canadian PlasticsPackaging Recycling
The facility in Dallas recycles 3 billion PET plastic bottles a year.
Global chemical producer Indorama Ventures (IVL) has completed its acquisition of CarbonLite Holdings’ facility in Texas as part of the company’s aim to increase its PET recycling capacity.
Now known as Indorama Ventures Sustainable Recycling (IVSR), the Dallas site is one of the largest producers of food-grade recycled pellets (recycled PET or rPET) in North America, with a combined capacity of 92,000 tons annually. The facility will recycle more than 3 billion PET plastic beverage bottles per year and support more than 130 jobs directly. IVL is the world’s largest producer of recycled PET for beverage bottles. With this acquisition, IVL expands its U.S. recycling capacity to 10 billion beverage bottles a year, towards its global target of recycling 50 billion bottles (750,000 metric tons) annually by 2025.
Thailand-based Indorama Ventures entered the U.S. PET market in 2003. In 2019, the company acquired recycling facilities in Alabama and California, bringing a circular business model to its U.S. operations. “The new acquisition in Texas allows [us] to better serve customers’ increasing need for recycled PET for beverages,” IVL said in a news release.