INDORAMA
Thai giant acquires major stake in Czech PET recycler
 PET plays a major role at the Thai company (Photo: Indorama Ventures) |
Petrochemicals and PET giant Indorama Ventures (Bangkok; www.indoramaventures.com) said it has purchased an 85% equity stake in Czech-based PET recycler UCY Polymers (Pilsen; https://ucy.group).
Financial details of the deal were not disclosed, but Indorama – which claims to be the world’s largest supplier of rPET for drinks bottles – said its investment in the Czech firm would see it recycle around 1.1 bn additional post-consumer PET bottles in the Central European country every year by 2025 which corresponds to a capacity of more than 16,000 t/y. The investment would increase total bottles recycled by UCY in its home market, Germany, and the region, to 1.6 bn/y, the Thai company added.
Indorama said in 2019 that it planned to invest USD 1.5 bn (EUR 1.3 bn) globally to expand its recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 t/y by 2025 (see Plasteurope.com of 29.08.2019).
Financial details of the deal were not disclosed, but Indorama – which claims to be the world’s largest supplier of rPET for drinks bottles – said its investment in the Czech firm would see it recycle around 1.1 bn additional post-consumer PET bottles in the Central European country every year by 2025 which corresponds to a capacity of more than 16,000 t/y. The investment would increase total bottles recycled by UCY in its home market, Germany, and the region, to 1.6 bn/y, the Thai company added.
Indorama said in 2019 that it planned to invest USD 1.5 bn (EUR 1.3 bn) globally to expand its recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 t/y by 2025 (see Plasteurope.com of 29.08.2019).
23.02.2022 Plasteurope.com [249720-0]
Published on 23.02.2022