Thailand-headquartered Indorama Ventures Ltd. (IVL) has purchased AG Resinas Ltda. to complement its recycling business in Brazil.
IVL closed the deal June 8. This acquisition fits strategically with the IVL’s long-term sustainability objectives and will support IVL’s PET business in Brazil. The company said it would "provide a unique opportunity to create an immediate recycling presence with further expansion opportunity."
AG Resinas, a PET recycling facility in Juiz de Fora, Brazil with a capacity of 9,000 metric tons per year, processes post-consumer PET into recycled PET flakes and pellets. In terms of logistics, the facility has the advantage of being located in close proximity to a large supply of recovered PET bottles.
Indorama entered the recycling business in 2011. The company has established recycling facilities at strategic locations across the globe. One of the most recent projects is a collaboration with Coca-Cola Beverages Philippines, the bottling arm of Coca-Cola Co. in the country.
The companies signed a joint-venture agreement to establish PETValue, the largest bottle-to-bottle recycling facility in the Philippines.