Indorama Ventures acquires CarbonLite’s Texas PET recycling facility
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The Dallas site will be known as Indorama Ventures Sustainable Recycling.
Global chemical producer Indorama Ventures (IVL) has acquired CarbonLite Holdings’ facility in Texas as part of the company’s commitment to increasing PET recycling capacity.
Now known as Indorama Ventures Sustainable Recycling (IVSR), the Dallas site is said to be one of the largest producers of food-grade recycled pellets (recycled PET, or rPET) in the U.S., 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.
In a June 14 news release, IVL says it’s the world’s largest producer of rPET 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,” the news release said.
“IVSR…will complement our existing PET and fibre businesses in the U.S.,” said D. K. Agarwal, CEO of IVL’s combined PET, IOD and fibres business. “By providing an expanded global recycling presence, we will meet the growing needs of our customers.”