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25.08.2022

Indorama Ventures committed to Science Based Targets initiative

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced its commitment to science-based targets by the Science Based Targets initiative (SBTi) to help drive its ambitious sustainability programs. The company will also participate in the SBTi Expert Advisory Group for the chemicals industry.

SBTi is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature to help businesses set emissions reduction targets based on the most recent climate science. IVL has committed to science-based targets under its purpose of “Reimagining chemistry together to create a better world” which aims to reduce global warming in line with the 1.5°C Paris Climate Agreement.

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced its commitment to science-based targets by the Science Based Targets initiative (SBTi) to help drive its ambitious sustainability programs. The company will also participate in the SBTi Expert Advisory Group for the chemicals industry.

SBTi is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature to help businesses set emissions reduction targets based on the most recent climate science. IVL has committed to science-based targets under its purpose of “Reimagining chemistry together to create a better world” which aims to reduce global warming in line with the 1.5°C Paris Climate Agreement.

Under its Vision 2030 ambition, Indorama Ventures aims to build on its global industry leadership in sustainability, including by reducing GHG intensity by 30% and increasing renewable electricity consumption to 25%. Green projects are helping the company to achieve its operational efficiency targets, increase its use of renewable energy (especially renewable electricity – both onsite generation and offsite procurement through power purchase agreements), implement new decarbonization technologies including carbon capture, introduce bio-feedstock to its petrochemical value chain, and expand its PET recycling capability.

To meet its targets, IVL recognizes the importance of collaboration between the public and private sectors to decarbonize its operations through a variety of strategies. The established targets help its customers and suppliers to achieve their own sustainability goals, particularly their science-based targets.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "We are pleased to make our sustainability commitment more practical and measurable through science-based targets. We are dedicated to finding new technologies that can transform our operations and products towards net-zero. The efforts are not only for our sustainable business but also to support our customers and suppliers to achieve their own sustainability goals."

Source:

IVL

10.08.2022

Indorama Ventures' Results for 2Q22: Fibers segment -35% QoQ

  • Record Revenue of US$5,451M, an increase of 23% QoQ and 53% YoY
  • Record Reported EBITDA of US$1,010M, up 29% QoQ and 83% YoY
  • Reported Net Profit of THB 20.3B, an increase of 44% QoQ and 143% YoY.
  • Reported EPS of THB 3.58 (LTM2Q22: 8.11) and Core EPS of THB 2.32 (LTM2Q22:6.16)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported record 2Q22 earnings as the company’s global integrated model continues to benefit from strong consumer trends and management responded effectively to market disruptions.

IVL posted a record Core EBITDA of US$758 million in the second quarter, up 17% QoQ and 59% YoY. Sales revenue rose by about 11% QoQ on a same-store basis, supporting a Core EBITDA margin of 14%. The combination of strong sales and improved margins helped offset higher energy costs in the U.S. and Europe, while management leveraged the company’s leading position in local and regional markets to ensure uninterrupted customer service levels as higher crude oil prices impacted raw materials costs.

  • Record Revenue of US$5,451M, an increase of 23% QoQ and 53% YoY
  • Record Reported EBITDA of US$1,010M, up 29% QoQ and 83% YoY
  • Reported Net Profit of THB 20.3B, an increase of 44% QoQ and 143% YoY.
  • Reported EPS of THB 3.58 (LTM2Q22: 8.11) and Core EPS of THB 2.32 (LTM2Q22:6.16)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported record 2Q22 earnings as the company’s global integrated model continues to benefit from strong consumer trends and management responded effectively to market disruptions.

IVL posted a record Core EBITDA of US$758 million in the second quarter, up 17% QoQ and 59% YoY. Sales revenue rose by about 11% QoQ on a same-store basis, supporting a Core EBITDA margin of 14%. The combination of strong sales and improved margins helped offset higher energy costs in the U.S. and Europe, while management leveraged the company’s leading position in local and regional markets to ensure uninterrupted customer service levels as higher crude oil prices impacted raw materials costs.

Fibers segment posted Core EBITDA of US$55 million, a decrease of 35% QoQ and 15% YoY, as sales declined 11% QoQ. The segment was impacted by lower demand in the Lifestyle vertical amid the China lockdown while higher freight rates restricted exports. The Hygiene vertical was impacted by volumes at Avgol’s Russia site along with increased polypropylene prices, while strength in the replacement tires market partially offset the ongoing semiconductor shortage, resulting in a stable performance for Mobility.

Source:

Indorama Ventures Public Company Limited

IVL
03.08.2022

Winners of the RECO Sustainable Young Designer Competition

Indorama Ventures Public Company Limited (IVL) named the winners of ‘RECO Young Designer Competition’, Thailand's largest upcycling fashion design event, parading haute couture garments containing at least 60% recycled materials.

Eleven finalists showcased 33 handmade sustainable outfits at the 9th edition of the fashion show at IVL’s headquarters in Bangkok, using recycled PET and polyester items to craft creative fashions. Under the concept of ‘REVIVE: Start from the Street,’ RECO supports young Thai designers while raising awareness of recycling. The designs use a range of recycled materials including recycled PET yarns, discarded fabric from factories, and even repurposed safety belts.

Indorama Ventures Public Company Limited (IVL) named the winners of ‘RECO Young Designer Competition’, Thailand's largest upcycling fashion design event, parading haute couture garments containing at least 60% recycled materials.

Eleven finalists showcased 33 handmade sustainable outfits at the 9th edition of the fashion show at IVL’s headquarters in Bangkok, using recycled PET and polyester items to craft creative fashions. Under the concept of ‘REVIVE: Start from the Street,’ RECO supports young Thai designers while raising awareness of recycling. The designs use a range of recycled materials including recycled PET yarns, discarded fabric from factories, and even repurposed safety belts.

RECO awarded finalists and winners with 500,000 baht in prizes to support their careers. First prize of 125,000 baht was awarded to 23-year-old emerging furniture designer Prem Buachum for his ‘The Origin of Rebirth’ collection, using fabric recycled from post-consumer PET bottles. The first runner-up, Sathitkhun Boonmee, was awarded 75,000 baht for his ‘Remembering Your Favorite Teddy Bear’ collection, using old dolls made of polyester fibers. Second runners-up, Worameth Monthanom and Tanakorn Sritong, received 50,000 baht for their ‘Regeneration of Nature (into Spring)’ collection, using unused fabrics and discarded PET film. Napat Tansuwan, a finalist with his’ Don’t Judge’ collection, will go on to create designer merchandise for sponsor Buriram United Football Club using local weaving techniques from communities in Buriram province.

Mrs. Aradhana Lohia Sharma, Vice President at Indorama Ventures and RECO Young Designer Competition Chairperson, said, “Since 2011, RECO's ambition has been to uplift recycling and inspire people to realize the value of recyclable materials to produce great new products for daily life. We have witnessed many thoughtful initiatives on upcycling through the collections created by our talented young Thai designers. The designs this year showcase stunning wearability and innovation while using a large percentage of recycle materials. Public interest in recycling has been growing immensely, and we are grateful to strengthen the relationship with partners like Buriram United Football Club.”

“Indorama Ventures hopes this competition will be a driving force in nurturing sustainable fashion concepts and increasing the acceptance of recycled materials, especially post-consumer PET. We are proud to be a stepping-stone for our youth's design journey and our community’s sustainable future.”

Source:

IVL

19.07.2022

IVL: Corpus Christi Polymers plant in Texas resumes construction

Indorama Ventures Public Company Limited (IVL) announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year. Corpus Christi Polymers LLC (CCP), a partnership between three companies, is expected to begin production in 2025 and ensure continued cost-competitive production to support the growth of IVL’s global PET operations into the next decade.

CCP was formed in 2018 as a joint venture between Indorama Ventures Corpus Christi Holdings LLC, a subsidiary of Indorama Ventures; DAK Americas LLC, a subsidiary of Alpek S.A.B. de C.V.; and APG Polytech USA Holdings, Inc, a subsidiary of Far Eastern New Century, following the purchase of a partially constructed facility of M&G Resins in Corpus Christi. Each partner will procure its own raw materials and receive one third of the PTA and PET produced at the facility to sell and distribute independently.

Indorama Ventures Public Company Limited (IVL) announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year. Corpus Christi Polymers LLC (CCP), a partnership between three companies, is expected to begin production in 2025 and ensure continued cost-competitive production to support the growth of IVL’s global PET operations into the next decade.

CCP was formed in 2018 as a joint venture between Indorama Ventures Corpus Christi Holdings LLC, a subsidiary of Indorama Ventures; DAK Americas LLC, a subsidiary of Alpek S.A.B. de C.V.; and APG Polytech USA Holdings, Inc, a subsidiary of Far Eastern New Century, following the purchase of a partially constructed facility of M&G Resins in Corpus Christi. Each partner will procure its own raw materials and receive one third of the PTA and PET produced at the facility to sell and distribute independently.

Construction of the plant is resuming following a period of pandemic-related disruptions. Through the pandemic, the partners firmly resolved to continue planning amid continued robust demand for PET packaging and the need for shorter supply chains. As the impact of the pandemic eased in 2022, the management team was strengthened in preparation for the resumption in activities.

CCP is expected to be the largest vertically integrated PTA-PET production plant in the Americas, and IVL’s biggest greenfields project in the U.S. since the development of the AlphaPet production facility at Decatur, Alabama in 2009. The new Texas facility is a significant addition to IVL’s leading global footprint, and will expand its coverage to customers across the U.S. The plant’s vertical integration optimizes PTA-PET production and, together with the availability of raw materials Paraxylene and Mono Ethylene Glycol in the U.S., ensures long-term competitive-cost supply for IVL’s locally integrated polyester value chain.

The facility will have nominal annual capacities of 1.1 million metric tons of PET and 1.3 million metric tons of PTA, shared between the partners. It will employ three state-of-the-art technologies: PTA: IntegRex®, PET melt: Invista, and PET solid state: Easy Up (HCIRR – Horizontal Continuous slightly Inclined Rotary Reactor).

CCP is adding to its leadership team to prepare for the new growth opportunities. Mr Russell Wilson will leave his role with IVL as Head of Manufacturing Americas, Combined PET, to take up a new role as Chief Executive Officer of CCP from 18 July. He brings 30 years of Aromatics and PET leadership experience including prior roles with Amoco and BP before joining IVL. Mr Todd Hogue, IVL’s Global Head of EH&S, replaces Mr Wilson as IVL’s representative on CCP’s Board. Mr Michael Day joined CCP as Project Director in June and brings 34 years of construction leadership experience including senior roles with Bilfinger, KBR, and CB&I.  Mr Jeff Shea will assume the role of Chief Operating Officer on 18 July.  Mr Shea has been in the PET industry for the last 22 years and has managed PET sites for the last 17. 

Source:

Indorama Ventures Public Company Limited

Photo via Indorama Ventures Public Company Limited
01.07.2022

Indorama Ventures acquires Tollegno 1900’s Wool assets in Italy and Poland

Indorama Ventures Public Company Limited (IVL) completed the acquisition of the wool spinning businesses in Italy and Poland of Tollegno 1900 S.p.A. (Tollegno 1900), a leading Italian manufacturer of fabrics and yarns.

Tollegno 1900 has a family-based heritage with more than 120 years of experience and is one of the leading European textile groups with a total spinning capacity of around 3,500 tons of yarn per year with a specific focus on flat knitting and hand knitting yarns. With this acquisition, IVL secured two assets, including a spinning and top-dyeing operation in Poland and a yarn dyeing operation in Italy.

The acquisition is a strategic fit for IVL’s integrated business platform and will make a significant contribution to the sustainable growth of its Wool business, which is part of the company’s Fibers segment. It will also strengthen IVL’s footprint for worsted yarns in Europe and help extend IVL’s wool products globally with trading subsidiaries in America and Asia.

Indorama Ventures Public Company Limited (IVL) completed the acquisition of the wool spinning businesses in Italy and Poland of Tollegno 1900 S.p.A. (Tollegno 1900), a leading Italian manufacturer of fabrics and yarns.

Tollegno 1900 has a family-based heritage with more than 120 years of experience and is one of the leading European textile groups with a total spinning capacity of around 3,500 tons of yarn per year with a specific focus on flat knitting and hand knitting yarns. With this acquisition, IVL secured two assets, including a spinning and top-dyeing operation in Poland and a yarn dyeing operation in Italy.

The acquisition is a strategic fit for IVL’s integrated business platform and will make a significant contribution to the sustainable growth of its Wool business, which is part of the company’s Fibers segment. It will also strengthen IVL’s footprint for worsted yarns in Europe and help extend IVL’s wool products globally with trading subsidiaries in America and Asia.

The operations, which will be renamed Filatura Tollegno 1900, will add more sustainable products to IVL’s portfolio, including a full traceability project of the fibers used for yarns and fabrics, as well as provide synergies with existing assets.

Giovanni Germanetti, the CEO of Tollegno, will continue in the same role with Filatura Tollegno 1900, facilitating continuity and exploring new growth as part of IVL. Lincoln Germanetti, the President and co-CEO of Tollegno, will remain with Filatura Tollegno 1900 as COO.

More information:
IVL wool Fibers yarn
Source:

Indorama Ventures Public Company Limited 

27.06.2022

Indorama Ventures enters world-first China license agreement

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, has signed a license agreement with Shandong Binhua New Material Co., Ltd. (Binhua), a subsidiary of Befar Group, a leading petroleum and chemical enterprise in China, to build, own and operate a propylene oxide (PO), t-Butanol (TBA) and t-Butyl methyl ether (MTBE) co-production unit.

Featuring the world’s only MTBE ‘single-step’ reaction technology, IVL’s proprietary innovation, the project is part of the ‘C3 and C4’ comprehensive utilization project in Shandong, China. It is one of the largest in the province, covering an area of over one million square meters.

Under the contract, IVL will provide a design package, technology, operational know-how and training to enable the construction and operation of a PO co-production with MTBE and TBA units for Binhua. The plant is part of a larger complex comprising propane dehydrogenation to propylene, butane isomerization, synthetic ammonia, and other installations.

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, has signed a license agreement with Shandong Binhua New Material Co., Ltd. (Binhua), a subsidiary of Befar Group, a leading petroleum and chemical enterprise in China, to build, own and operate a propylene oxide (PO), t-Butanol (TBA) and t-Butyl methyl ether (MTBE) co-production unit.

Featuring the world’s only MTBE ‘single-step’ reaction technology, IVL’s proprietary innovation, the project is part of the ‘C3 and C4’ comprehensive utilization project in Shandong, China. It is one of the largest in the province, covering an area of over one million square meters.

Under the contract, IVL will provide a design package, technology, operational know-how and training to enable the construction and operation of a PO co-production with MTBE and TBA units for Binhua. The plant is part of a larger complex comprising propane dehydrogenation to propylene, butane isomerization, synthetic ammonia, and other installations.

More information:
Indorama
Source:

Indorama Ventures Public Company Limited 

(c) Indorama Ventures PCL
21.06.2022

Indorama Ventures works with Auping and TWE Group to deliver a fully circular mattress

The sustainable collaboration and innovation between Indorama Ventures (IVL), Auping and TWE Group presented a certified cradle to cradle process for mattress components across nonwoven applications, at Techtextil, Frankfurt, 21st to 24th June 2022.

Using circular research and design, the industry partnership between IVL Mullagh (Ireland), Auping and TWE Group has resulted in a perpetual, sustainable economic business model, for manufacturers globally. The inclusion of safe raw materials within mattress manufacturing allows the materials to be easily disassembled at the product’s end of use in order to be further reused as same components or recycled into new raw material at the same quality level, to enable versatile textile applications.

The sustainable collaboration and innovation between Indorama Ventures (IVL), Auping and TWE Group presented a certified cradle to cradle process for mattress components across nonwoven applications, at Techtextil, Frankfurt, 21st to 24th June 2022.

Using circular research and design, the industry partnership between IVL Mullagh (Ireland), Auping and TWE Group has resulted in a perpetual, sustainable economic business model, for manufacturers globally. The inclusion of safe raw materials within mattress manufacturing allows the materials to be easily disassembled at the product’s end of use in order to be further reused as same components or recycled into new raw material at the same quality level, to enable versatile textile applications.

Designed for disassembly to optimize the use of existing resources, reduce carbon footprint and support customer objectives all along their customers’ supply chain. This circular industry collaboration begins with design, where the mattress is constructed using only two different base materials, 100% PET polyester textiles and steel wire pocket springs connected with Niaga®️, a non toxic reversible adhesive, making the mattress easy to disassemble and recover.

IVL, Auping and TWE’s shared vision for a better world is demonstrated through their connected and innovative circularity that helps to close the loop. Auping collects, sorts and separates the collected fabrics, which then go to IVL Mullagh for processing, melting and extrusion to form polyester staple fiber. These staple fibers are then converted by TWE Group into nonwovens for use in Auping’s Evolve mattress, a fully circular mattress. Following the end of mattress use, the material recovery process simply starts again.

Auping estimates that annually more than 40 million mattresses are disposed of in Europe alone, the majority of which are incinerated. Their take back system in the Netherlands ensures that when their new mattress is delivered, the old mattress is retrieved and recycled, irrespective of the brand, ensuring existing materials are continually optimized, diverted from landfill and kept in use to achieve a circular economy.

Source:

Indorama Ventures PCL

19.06.2022

Indorama Venures: Faserinnovationen auf der Techtextil

Indorama Ventures Public Company Limited (IVL), einer der weltweit führenden Petrochemieproduzenten mit globaler Präsenz in Europa, Afrika, Nord- und Südamerika sowie im asiatisch-pazifischen Raum, wird auf der Techtextil die neuesten Entwicklungen und Innovationen seiner drei Faser-Sparten MOBILITY, HYGIENE und LIFESTYLE vorstellen. Diese drei Geschäftsbereiche vereinen Schlüsselkompetenzen in den Bereichen Fasern, Vliesstoffe und Gewebe für die Märkte Automobil, Hygiene, Funktionsmaterialien und Verbundwerkstoffe.

Unter dem Motto "Reimaging Chemistry together for a better World" wird ein breites Portfolio an nachhaltigen Produkten, fortschrittlichen Technologien und verbraucherorientierten Lösungen vorgestellt.

Ein Schwerpunkt wird die Marke Deja® sein — die Plattform für nachhaltige Produkte von Indorama Ventures. Sie umfasst u.a. Materialien wie Fasern aus recyceltem PET (rPET). Ziel ist es, Produkte im Umlauf zu halten und die Kreislaufwirtschaft zu etablieren.  Außerdem werden Materialien mit einem neutralen Kohlenstoff-Fußabdruck, darunter Breathair® und bio-basierte Produkte, präsentiert.

Indorama Ventures Public Company Limited (IVL), einer der weltweit führenden Petrochemieproduzenten mit globaler Präsenz in Europa, Afrika, Nord- und Südamerika sowie im asiatisch-pazifischen Raum, wird auf der Techtextil die neuesten Entwicklungen und Innovationen seiner drei Faser-Sparten MOBILITY, HYGIENE und LIFESTYLE vorstellen. Diese drei Geschäftsbereiche vereinen Schlüsselkompetenzen in den Bereichen Fasern, Vliesstoffe und Gewebe für die Märkte Automobil, Hygiene, Funktionsmaterialien und Verbundwerkstoffe.

Unter dem Motto "Reimaging Chemistry together for a better World" wird ein breites Portfolio an nachhaltigen Produkten, fortschrittlichen Technologien und verbraucherorientierten Lösungen vorgestellt.

Ein Schwerpunkt wird die Marke Deja® sein — die Plattform für nachhaltige Produkte von Indorama Ventures. Sie umfasst u.a. Materialien wie Fasern aus recyceltem PET (rPET). Ziel ist es, Produkte im Umlauf zu halten und die Kreislaufwirtschaft zu etablieren.  Außerdem werden Materialien mit einem neutralen Kohlenstoff-Fußabdruck, darunter Breathair® und bio-basierte Produkte, präsentiert.

Auch andere neue Technologien werden vor Ort zu sehen sein. Um die Verschmutzung der Umwelt durch Kunststoffe zu verringern, führt Indorama Ventures Polyolefinfasern und Vliesstoffe ein, die durch die kürzlich eingeführte Biotransformationstechnologie biologisch abbaubar sind. Biotransformation ist ein Prozess, bei dem sich der physikalische Zustand einer Faser von einem kristallinen Feststoff in ein bioverfügbares Wachs ändert.

Photo Carbios. Lionel Arras
30.05.2022

Carbios strengthens Executive Committee for Expansion Plans

Carbios announces the appointment of two new members to its Executive Committee: Lionel Arras, Industrial Development Director, and Mathieu Berthoud, Sourcing and Public Affairs Director.

Lionel Arras joined Carbios’ teams in 2021 to support the industrial growth of PET enzymatic recycling technology as Industrial Development Director. He was appointed to the Company’s Executive Committee on May 2. An engineer who graduated from ENSIC Nancy and holds an MBA from the Lyon School of Management, Lionel Arras has more than 25 years of experience in the field of process engineering and the chemical industry.
At Carbios, he now heads a team of around 50 people mobilized around three major divisions:
- the industrial demonstration plant, inaugurated last September in Clermont-Ferrand,
- technological development,
- the first Reference Unit project, installed on the Indorama Ventures site in Longlaville, Meurthe-et-Moselle, France.

Carbios announces the appointment of two new members to its Executive Committee: Lionel Arras, Industrial Development Director, and Mathieu Berthoud, Sourcing and Public Affairs Director.

Lionel Arras joined Carbios’ teams in 2021 to support the industrial growth of PET enzymatic recycling technology as Industrial Development Director. He was appointed to the Company’s Executive Committee on May 2. An engineer who graduated from ENSIC Nancy and holds an MBA from the Lyon School of Management, Lionel Arras has more than 25 years of experience in the field of process engineering and the chemical industry.
At Carbios, he now heads a team of around 50 people mobilized around three major divisions:
- the industrial demonstration plant, inaugurated last September in Clermont-Ferrand,
- technological development,
- the first Reference Unit project, installed on the Indorama Ventures site in Longlaville, Meurthe-et-Moselle, France.

Lionel Arras, Carbios’ Industrial Development Director: “After the successful start-up of our industrial demonstration plant in Clermont-Ferrand, we are continuing our scale-up with the construction of the first enzymatic recycling plant in the world in Longlaville, France. Its launch, scheduled for early 2025, will enable the processing of 50,000 tons of post-consumer PET waste or the equivalent of 2 billion bottles. It is a great source of pride for me to be able to support Carbios in this strategic development phase.”

Mathieu Berthoud will join Carbios as Sourcing and Public Affairs Director on June 1, 2022. With more than 30 years of experience, including 10 years at Rhodia (now Solvay) and more than 20 years at Suez, in various commercial development or subsidiary management positions, he was most recently Technical and Performance Director for the Group’s recycling and recovery activities. A university-trained scientist, he also holds an MBA from HEC Paris. At Carbios, he will be responsible for securing the supply of PET waste for the future reference plant in Longlaville and the other industrial sites that will follow. He will also manage the Company’s public affairs.

26.05.2022

New french recycling technology to recycle 50 million PET food trays per year

Indorama Ventures, VALORPLAST, Klöckner Pentaplast (kp) and CITEO collaboration delivers a commercial recycling solution for monolayer PET trays

Thai-based Indorama Ventures Public Company Limited (IVL) with its facility Wellman France Recycling in Verdun, has been working on the PET trays recycling for 6 years and through an ongoing project with VALORPLAST and supported by CITEO.

The project has the objective to develop and validate recycling for monolayer and multilayer PET trays. VALORPLAST has collected significant quantities of post-consumer PET trays and several industrial runs have been conducted by Wellman. The produced flakes are being tested by several actors to develop high quality applications. Those tests have led by IVL to develop a commercially feasible recycling solution for monolayer PET trays with the collaboration of Klöckner Pentaplast.
The new technology is processing monolayer PET trays used for food packaging (meat, produce and cheese) into a high-quality product, suitable for new tray production.

This new recycling innovation will see over 50 million post-consumer PET trays diverted away from landfill or incineration.

Indorama Ventures, VALORPLAST, Klöckner Pentaplast (kp) and CITEO collaboration delivers a commercial recycling solution for monolayer PET trays

Thai-based Indorama Ventures Public Company Limited (IVL) with its facility Wellman France Recycling in Verdun, has been working on the PET trays recycling for 6 years and through an ongoing project with VALORPLAST and supported by CITEO.

The project has the objective to develop and validate recycling for monolayer and multilayer PET trays. VALORPLAST has collected significant quantities of post-consumer PET trays and several industrial runs have been conducted by Wellman. The produced flakes are being tested by several actors to develop high quality applications. Those tests have led by IVL to develop a commercially feasible recycling solution for monolayer PET trays with the collaboration of Klöckner Pentaplast.
The new technology is processing monolayer PET trays used for food packaging (meat, produce and cheese) into a high-quality product, suitable for new tray production.

This new recycling innovation will see over 50 million post-consumer PET trays diverted away from landfill or incineration.

Testing has now moved into commercial production. 500 tonnes of PET trays are now being processed monthly and transformed into a high-quality tray flake, which can be used to produce new trays. The purity of the flakes is comparable with high-quality bottle flake. A further scale up is foreseen, and the company plans to process 10KT of tray flake in 2022.

More information:
PET recycling fibers
Source:

 Indorama Ventures Public Company Limited 

12.05.2022

Indorama Ventures reports results for 1Q22

Indorama Ventures Public Company Limited (IVL) reported a strong 1Q22 result, building on its record FY 2021 performance as the pandemic continued to retreat, driving demand across the company’s global integrated portfolio.

IVL achieved 1Q22 Core EBITDA of US$650 million, up 41% QoQ and 77% YoY, and a 4% increase in production volumes to 3.80 MMT. All three of IVL’s business segments grew as the company’s leading global position benefited overall in an environment of higher crude oil prices, increased ocean freight rates and a strengthening US dollar, led by resurging consumer demand and global mobility.

IVL’s Integrated Oxides and Derivatives (IOD) business benefits from a high crude oil price environment, as its shale gas advantage supports MTBE and MEG margins. As ocean freight rates increase, IVL’s PET and Fibers segments gain due to increased import parity pricing in Western markets, where about two thirds of its portfolio is situated. Management’s agile response to hedging and levying surcharges has helped to partially recuperate the surge in energy and utility costs in Europe as a consequence of the Russia-Ukraine conflict.

Indorama Ventures Public Company Limited (IVL) reported a strong 1Q22 result, building on its record FY 2021 performance as the pandemic continued to retreat, driving demand across the company’s global integrated portfolio.

IVL achieved 1Q22 Core EBITDA of US$650 million, up 41% QoQ and 77% YoY, and a 4% increase in production volumes to 3.80 MMT. All three of IVL’s business segments grew as the company’s leading global position benefited overall in an environment of higher crude oil prices, increased ocean freight rates and a strengthening US dollar, led by resurging consumer demand and global mobility.

IVL’s Integrated Oxides and Derivatives (IOD) business benefits from a high crude oil price environment, as its shale gas advantage supports MTBE and MEG margins. As ocean freight rates increase, IVL’s PET and Fibers segments gain due to increased import parity pricing in Western markets, where about two thirds of its portfolio is situated. Management’s agile response to hedging and levying surcharges has helped to partially recuperate the surge in energy and utility costs in Europe as a consequence of the Russia-Ukraine conflict.

The re-opening of economies bodes well for demand across IVL’s portfolio. However, China’s ongoing pandemic lockdowns impacted downstream polyester demand resulting in weakened MEG spreads. IVL’s businesses trade in US dollars and a strengthening dollar has positive impact, reducing conversion costs in emerging economies where IVL has a strong local presence.

Combined PET segment reported Core EBITDA of US$435 million, up 63% QoQ and 67% YoY supported by the reset of PTA/PET contracts at the end of 2021. IVL expects the tight supply-demand environment to continue through 2022, boosted by the upcoming peak summer season.

IOD segment achieved Core EBITDA of US$126 million, up 3% QoQ and 258% YoY as MTBE margins benefited from higher crude oil prices, demand remains strong for downstream products, and as the commissioning of the Lake Charles cracker contributes to earnings in 2022. The integration of the Oxiteno acquisition, completed in April, will bring additional upside to IOD from 2Q22.

Fibers segment delivered Core EBITDA of US$85 million, an increase of 4% QoQ and 17% YoY. Demand across the three Fibers verticals is stable with domestic sales yielding better profitability, while higher freight rates weighed on margins on export volumes from Thailand, Indonesia and India, and increased energy and utility costs impacted European operations.

1Q22 Performance Highlights

  • Consolidated Revenue of US$4,444M, an increase of 12% QoQ and 37% YoY
  • Record Reported EBITDA of US$784M, a YoY growth of 63%, and Core EBITDA of US$650M, a YoY growth of 77%
  • Production volumes up 4% YoY to 3.80 MMT
  • Reported Net Profit of THB 14,070M, Core Net Profit of THB 10,578M
  • Reported EPS of THB 2.47 (LTM1Q22: 5.98) and Core EPS of THB 1.85 (LTM1Q22:4.96)
  • Record Core EBITDA Margin at 15%
Source:

Indorama Ventures Public Company Limited

(c) Indorama Ventures Public Company Limited
22.04.2022

Indorama Ventures completes acquisition of packaging company in Vietnam

Indorama Ventures Public Company Limited (IVL) completed the acquisition of Ngoc Nghia Industry – Service – Trading Joint Stock Company (NN), one of Vietnam’s leading PET packaging companies. The acquisition will boost IVL's market position as it continues to expand its integrated offering of PET products to major multinational customers throughout the region.

Ngoc Nghia is a trusted market leader in PET, preforms and closures, with long-term partnerships with major global and Vietnamese brands in the beverage and non-beverage industries. It has four manufacturing facilities in Vietnam's north and south with a total production capacity of 5.5 billion units of PET preforms, bottles, and closures, totaling 76,000 tons of PET conversion each year.

Indorama Ventures Public Company Limited (IVL) completed the acquisition of Ngoc Nghia Industry – Service – Trading Joint Stock Company (NN), one of Vietnam’s leading PET packaging companies. The acquisition will boost IVL's market position as it continues to expand its integrated offering of PET products to major multinational customers throughout the region.

Ngoc Nghia is a trusted market leader in PET, preforms and closures, with long-term partnerships with major global and Vietnamese brands in the beverage and non-beverage industries. It has four manufacturing facilities in Vietnam's north and south with a total production capacity of 5.5 billion units of PET preforms, bottles, and closures, totaling 76,000 tons of PET conversion each year.

IVL plans to sustainably grow the business to better serve customers in Vietnam, a high-growth new market, as well as IVL’s major PET packaging customers across the region including global household beverage brands. Ngoc Nghia’s family business roots, led by its founder for over 30 years, was integral to IVL’s decision to invest in the company as a strategic match. The existing team’s extensive local market knowledge will be further augmented by leadership from IVL’s PET packaging business unit, bringing a powerful combination of local, regional and global expertise to the market.

Source:

Indorama Ventures Public Company Limited

(c) Hologenix, LLC
11.04.2022

Hologenix® receives recognition for pure white CELLIANT

Hologenix® announces that its newest innovation has achieved two recognitions. In addition to being a Top Ten winner in the Fibers & Insulation Category of ISPO Textrends Fall/Winter 2023/24, pure white CELLIANT has been shortlisted in the Drapers Sustainable Fashion 2022 Awards. The company is sharing the spotlight with recognized brands such as H&M, Sweaty Betty and Timberland. According to Drapers, the leading authority on fashion retailing in the UK since 1887, which sponsors these awards annually, this year they received the most entries ever, making them very competitive.

To create pure white CELLIANT rPET fiber, Hologenix developed a strategic partnership with the Ireland-based Wellman International Limited, a fully owned subsidiary of Indorama Ventures. Indorama Ventures is investing $1.5 billion on sustainability initiatives, allowing them to recycle 50 billion PET bottles globally by 2025 to support the growth of the circular economy. Wellman International has been a pioneer of recycling technologies for almost 50 years, offering specialist solutions for the medical, hygiene, automotive, home care and apparel sectors.  

Hologenix® announces that its newest innovation has achieved two recognitions. In addition to being a Top Ten winner in the Fibers & Insulation Category of ISPO Textrends Fall/Winter 2023/24, pure white CELLIANT has been shortlisted in the Drapers Sustainable Fashion 2022 Awards. The company is sharing the spotlight with recognized brands such as H&M, Sweaty Betty and Timberland. According to Drapers, the leading authority on fashion retailing in the UK since 1887, which sponsors these awards annually, this year they received the most entries ever, making them very competitive.

To create pure white CELLIANT rPET fiber, Hologenix developed a strategic partnership with the Ireland-based Wellman International Limited, a fully owned subsidiary of Indorama Ventures. Indorama Ventures is investing $1.5 billion on sustainability initiatives, allowing them to recycle 50 billion PET bottles globally by 2025 to support the growth of the circular economy. Wellman International has been a pioneer of recycling technologies for almost 50 years, offering specialist solutions for the medical, hygiene, automotive, home care and apparel sectors.  

Pure white CELLIANT rPET fiber is sustainably manufactured, with a low-impact supply chain. It is achieved by embedding bioceramic materials, that are naturally derived and ethically sourced, into fibers, yarns and fabrics. Wellman International has converted 100% of pure white CELLIANT Polyester production into rPET. This conversion to rPET has been implemented across all CELLIANT product categories, replacing traditional polyester and dramatically enhancing CELLIANT’s sustainability initiatives.

Pure white CELLIANT is recognized as a Class 1 medical device in the European Union and is able to carry the CE mark. Like CELLIANT, pure white CELLIANT captures and converts body heat into infrared energy, powering bio-responsive textiles. This energy is reflected back to the body, resulting in increased local circulation and cellular oxygenation. These advantages have a variety of wellness benefits, including stronger performance, faster recovery and better sleep, as well as many functional properties such as thermoregulation, quick-dry properties and odor inhibition.  

Wellman International distributes pure white CELLIANT fibers across Europe, the Middle East, Africa, Asia and the USA.

Source:

Hologenix, LLC / Sarah P. Fletcher Communications

Indorama Ventures completes acquisition of Brazil-based Oxiteno, extending growth profile into attractive surfactant markets (c) Indorama Ventures Public Company Limited
(from left) Alastair Port, João Parolin
06.04.2022

Indorama Ventures now in Brasil

  • Indorama Ventures completes acquisition of Brazil-based Oxiteno, extending growth profile into attractive surfactant markets

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, today completed its acquisition of 100% of Brazil-based Oxiteno S.A. Indústria e Comércio, becoming a leading global supplier in high-value surfactant markets.

The acquisition of Oxiteno, formerly a subsidiary of Ultrapar Participações S.A., was announced in August 2021 and is effective from 1 April 2022 after the transaction was approved by Brazil’s Administrative Council for Economic Defense (CADE). Through the acquisition, IVL extends its growth profile into highly attractive markets in Latin America and the U.S., becoming the leading surfactants producer in the Americas, with additional potential to expand in Europe and Asia.

  • Indorama Ventures completes acquisition of Brazil-based Oxiteno, extending growth profile into attractive surfactant markets

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, today completed its acquisition of 100% of Brazil-based Oxiteno S.A. Indústria e Comércio, becoming a leading global supplier in high-value surfactant markets.

The acquisition of Oxiteno, formerly a subsidiary of Ultrapar Participações S.A., was announced in August 2021 and is effective from 1 April 2022 after the transaction was approved by Brazil’s Administrative Council for Economic Defense (CADE). Through the acquisition, IVL extends its growth profile into highly attractive markets in Latin America and the U.S., becoming the leading surfactants producer in the Americas, with additional potential to expand in Europe and Asia.

Oxiteno becomes part of IVL’s Integrated Oxides and Derivatives (IOD) business segment, which IVL formed in 2020 with the purchase of assets from U.S.-based Huntsman (Spindletop transaction). IOD is a high-margin growth driver alongside IVL’s traditional Combined PET (CPET) necessities segment and its Fibers segment. Together, IVL’s three segments create a stronger and more resilient integrated platform along the company’s petrochemicals value chain.

The Oxiteno acquisition includes 11 manufacturing plants in Latin America and the U.S., 5 R&D centers, an experienced management team, a strong environmental governance record, and expertise in green chemistry innovation. Through Oxiteno, IOD assumes a leading position in technologies catering to innovation-led, high-value-add (HVA) surfactant solutions in attractive home & personal care, crop solutions, and coating & resources markets. This diversity increases IOD’s earnings stability and resilience. The surfactants market has seen consistent growth over the last decade, driven by trends in population growth, urbanization and increasing hygiene awareness amid the global pandemic.

01.04.2022

Carbios presents its 2021 Annual Results

  • 2021 Annual Results: First IFRS consolidated statements integrating the subsidiary Carbiolice
  • Plan to build a first industrial facility with a strong financial support from the French Government and the Grand-Est Region: site selected in France in partnership with Indorama Ventures, world leader in the production recycled PET
  • Successful commissioning of a demonstration facility in September 2021 and confirmation of the validity of the scale-up of Carbios’ enzymatic recycling technology
  • Takeover of Carbiolice and full integration in the consolidated IFRS statements since June 4th, 2021
  • Appointment of Philippe Pouletty as Chairman of the Board of Directors on April 1st, 2022
  • Appointment of Emmanuel Ladent as CEO of the Company on December 1st, 2021
  • Strengthening of Carbios’ financial structure: capital increase of €114 million with French and International investors and €30 million loan from the European Investment Bank (EIB)
  • Group’s cash position of €105 million as of December 31, 2021, which does not include the €30 million EIB loan due to be drawn down in the first half of 2022

Carbios, a pi

  • 2021 Annual Results: First IFRS consolidated statements integrating the subsidiary Carbiolice
  • Plan to build a first industrial facility with a strong financial support from the French Government and the Grand-Est Region: site selected in France in partnership with Indorama Ventures, world leader in the production recycled PET
  • Successful commissioning of a demonstration facility in September 2021 and confirmation of the validity of the scale-up of Carbios’ enzymatic recycling technology
  • Takeover of Carbiolice and full integration in the consolidated IFRS statements since June 4th, 2021
  • Appointment of Philippe Pouletty as Chairman of the Board of Directors on April 1st, 2022
  • Appointment of Emmanuel Ladent as CEO of the Company on December 1st, 2021
  • Strengthening of Carbios’ financial structure: capital increase of €114 million with French and International investors and €30 million loan from the European Investment Bank (EIB)
  • Group’s cash position of €105 million as of December 31, 2021, which does not include the €30 million EIB loan due to be drawn down in the first half of 2022

Carbios, a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic, announced its operating and financial results for the year 2021. The financial statements as of December 31, 2021, were approved by the Company’s Board of Directors at their meeting on March 31, 2022.

“In 2021, Carbios achieved several technical and industrial milestones testifying of the soundness and successful execution of our strategy. The excellent results obtained from our demonstration plant confirms the industrial scale-up potential of our biological technology for the recycling of PET plastics and fibers. Together with our Consortium members, we also produced the world’s first food-grade PET sample bottles produced entirely from enzymatically recycled plastics; a world first. In addition, we have strengthened our financial structure by raising a landmark €114 million in May 2021 and we have taken full control of Carbiolice in June. In line with our objectives and with a strong financial support from the French Government and the Grand-Est Region, we will soon enable France to host the world’s first industrial facility dedicated to the biological recycling of plastics. Carbios’ enzymatic process will make it possible to recycle more than 50,000 tons of PET plastic waste per year,” comments Emmanuel Ladent, CEO of Carbios. “Our priority for 2022 is to finalize the terms of our partnership with Indorama Ventures, which will host the world’s first industrial facility operating our biological recycling process at its French production site in Longlaville. This year will also be about optimizing our commercial strategy, while continuing our innovation efforts on the end-of-life of other polymers.”

Click here to for further information.

Source:

Carbios

30.03.2022

Carbios & Indorama Ventures: Manufacturing plant for fully bio-recycled PET

  • The plan for the reference plant is to be operational in 2025 in France (Longlaville) with a processing capacity of 50.000 tons of PET waste per year and creating 150 direct and indirect new jobs.
  • Indorama Ventures, the world’s largest producer of recycled PET for beverage bottles, plans to co-invest in this project3 and will consider expanding Carbios’ unique biological recycling process at other PET sites4 for future developments.
  • This strategic project is strongly supported by the French Government and the Grand-Est Region, with significant non-dilutive financing.

Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers and Indorama Ventures (Bloomberg ticker: IVL.TB), one of the world-leading PET manufacturer, jointly announced a collaboration to build a manufacturing plant operating Carbios’ PET bio-recycling technology at Indorama Ventures’ PET production site in France (Longlaville, Meurthe-et-Moselle).

  • The plan for the reference plant is to be operational in 2025 in France (Longlaville) with a processing capacity of 50.000 tons of PET waste per year and creating 150 direct and indirect new jobs.
  • Indorama Ventures, the world’s largest producer of recycled PET for beverage bottles, plans to co-invest in this project3 and will consider expanding Carbios’ unique biological recycling process at other PET sites4 for future developments.
  • This strategic project is strongly supported by the French Government and the Grand-Est Region, with significant non-dilutive financing.

Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers and Indorama Ventures (Bloomberg ticker: IVL.TB), one of the world-leading PET manufacturer, jointly announced a collaboration to build a manufacturing plant operating Carbios’ PET bio-recycling technology at Indorama Ventures’ PET production site in France (Longlaville, Meurthe-et-Moselle).

After having successfully started-up its demonstration plant in Clermont-Ferrand, Carbios is moving one step further towards the industrialization and commercialization by partnering with Indorama Ventures. The goal is to build and operate in France the world’s first industrial-scale enzymatic PET bio-recycling plant, with a processing capacity estimated at ca. 50.000 tons of post-consumer PET waste per year, equivalent to 2 billion PET bottles or 2.5 billion PET trays.

The capital investment required for the project is expected to be around €150 million for Carbios core technology, including in particular an additional purification step, which has been integrated into the process. In addition, an estimated €50 million investment will be allocated for the infrastructure preparation of the site. The project is expected to create approximatively 150 direct and indirect full-time jobs. In the coming months, Carbios expects to finalize a strong non-dilutive financial support from French Government and from the Grand-Est Region5, based on the offer received last week by Carbios, from the Minister of Industry, Agnès Pannier-Runacher and the President of Grand-Est Region, Jean Rottner.

This financial support will be conditional on the notification to the European Commission and on contractualization by French authorities. Carbios announced in its half-year results on the 30th September 2021 a cash position of €112 million. Since then, Carbios has also secured a €30 million loan from EIB.

Source:

Carbios

02.03.2022

Indorama Ventures reports record FY2021 performance as the global recovery drove volumes

  • IVL commits to being an industry leader in sustainability under ‘Vision 2030’

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, today reported a record FY2021 performance as the economic recovery drove demand across the company’s global footprint. 

Mr Aloke Lohia, Indorama Ventures Group CEO, said: “In 2021 we proved the resilience of our global footprint and our integrated portfolio across the polyester value chain. The past two years were an unprecedented period of disruption in which our business model’s robustness and our teams’ agility were tested. Having reset our business plan for the ‘new normal’ era, I have never been more confident in our model, our strategy, and our teams."

2021 Summary

In 2021, IVL delivered Core EBITDA of US$1,743 million (up 55% YoY) on production volumes of 14.72 MMT (up 7% YoY). Consolidated Revenue increased 38% YoY to US$14,629 million as consumer confidence rebounded and the company’s resilient model benefited from rising inflation, energy price hikes and supply chain shocks.

  • IVL commits to being an industry leader in sustainability under ‘Vision 2030’

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, today reported a record FY2021 performance as the economic recovery drove demand across the company’s global footprint. 

Mr Aloke Lohia, Indorama Ventures Group CEO, said: “In 2021 we proved the resilience of our global footprint and our integrated portfolio across the polyester value chain. The past two years were an unprecedented period of disruption in which our business model’s robustness and our teams’ agility were tested. Having reset our business plan for the ‘new normal’ era, I have never been more confident in our model, our strategy, and our teams."

2021 Summary

In 2021, IVL delivered Core EBITDA of US$1,743 million (up 55% YoY) on production volumes of 14.72 MMT (up 7% YoY). Consolidated Revenue increased 38% YoY to US$14,629 million as consumer confidence rebounded and the company’s resilient model benefited from rising inflation, energy price hikes and supply chain shocks.

Macroeconomic tailwinds supported IVL’s performance, including government stimulus packages. In premium western markets, higher freight rates improved the company’s local import parity pricing advantage. In the fourth quarter, the introduction of China’s dual control policy widened polyester margins. 

IVL’s largest Combined PET segment posted a 39% increase in Core EBITDA to US$1,103 million in the context of strong demand and low inventories. The resetting of PET contracts in 2022 is expected to capture higher freight rates and the consequent beneficial impact on import parity. The segment is expected to enjoy improved margins in 2022.

Integrated Oxides & Derivatives (IOD) recorded a Core EBITDA of US$377 million, up 228% from a year earlier. With higher oil prices expected to continue into 2022, the segment will continue to benefit from shale gas economics, improving MEG spreads, and upside from Lake Charles (IVOL) ethylene cracker, which resumed operations in late 2021. The Oxiteno acquisition, expected to close in H1 2022, will bring complementary products, green energy innovation, and geographical diversification to the IOD segment.

Fibers segment delivered a 37% increase in Core EBITDA of US$268 million as volumes rose 11%. Margins widened due to tighter markets and a favorable product mix, with setbacks coming from energy and commodity price increases, while the ongoing semiconductor shortage impacted the Mobility vertical.

Mr D K Agarwal, CEO and CFO at Indorama Ventures, said: “The performance was a result of a number of important macroeconomic factors, such as heightened crude oil prices, supply disruptions, and resurgent consumer confidence as vaccinations were rolled out in the pandemic’s second full year. These factors led to improved margins and benefited us as a preferred regional supplier that can react quickly to fulfill our customer needs. Our transformation programs that we started three years ago are also delivering efficiency gains faster than planned. As the world emerges from the pandemic, our increased confidence in IVL’s resilient model sets a strong foundation for further growth through 2024.”

Source:

Indorama Ventures Public Company Limited

(c) BB Engineering GmbH
25.02.2022

BB Engineering GmbH delivers melt filter for PET recycling system to Indorama Polyester Industries

BB Engineering GmbH (Germany) delivers a melt filter for recycling PET flakes to polyester manufacturer Indorama Polyester Industries (Thailand). Indorama will be using the type NSF38 filter in its recently assembled recycling system in order to produce rPET granulate from flake PET bottle waste. The NSF38 filter enables continual filtering – in other words, the system switches from one filter to the other during the process without the need for conversion shut-downs. The filter allows the processing of consumer waste for example, in the form of shredded PET bottles into new, high-quality rPET granulate. This granulate is subsequently processed into manmade fibers in spinning systems.

The NSF38 is a switchable filter with a filter surface area of ap-prox. 16 m2 on each side, with throughputs of between 1,000 and 1,900 kg/h. The filter inserts each contain 19 pleated filter candles (60 x 1,000mm Ø). The filter medium comprises a sin-tered metal fiber nonwoven with a filtration fineness of 25 μm. This ensures that the melt remains free of contaminants and gel particles, which in turn enables the production of high-quality end products.

BB Engineering GmbH (Germany) delivers a melt filter for recycling PET flakes to polyester manufacturer Indorama Polyester Industries (Thailand). Indorama will be using the type NSF38 filter in its recently assembled recycling system in order to produce rPET granulate from flake PET bottle waste. The NSF38 filter enables continual filtering – in other words, the system switches from one filter to the other during the process without the need for conversion shut-downs. The filter allows the processing of consumer waste for example, in the form of shredded PET bottles into new, high-quality rPET granulate. This granulate is subsequently processed into manmade fibers in spinning systems.

The NSF38 is a switchable filter with a filter surface area of ap-prox. 16 m2 on each side, with throughputs of between 1,000 and 1,900 kg/h. The filter inserts each contain 19 pleated filter candles (60 x 1,000mm Ø). The filter medium comprises a sin-tered metal fiber nonwoven with a filtration fineness of 25 μm. This ensures that the melt remains free of contaminants and gel particles, which in turn enables the production of high-quality end products.

Source:

BB Engineering GmbH

18.02.2022

Indorama Ventures acquires 85% equity stake in UCY Polymers CZ s.r.o. (UCY)

  • New partnership will recycle over 1.6 billion PET beverage bottles in the Czech Republic by 2025

Indorama Ventures Public Company Limited (IVL), the world’s largest producer of recycled PET for beverage bottles, completed a deal for an 85% equity stake in Czech Republic-based PET plastic recycler, UCY Polymers CZ s.r.o. (UCY), boosting the country and Europe’s plastic collection and recycling ambitions.

As a result of the investment, IVL will recycle about 1.12 billion additional post-consumer PET (polyethylene terephthalate) plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY across the Czech Republic, Germany and Central Europe to 1.6 billion bottles per year. IVL, a global sustainable chemicals company, is investing USD1.5 billion globally to expand recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 tons per year by 2025.

  • New partnership will recycle over 1.6 billion PET beverage bottles in the Czech Republic by 2025

Indorama Ventures Public Company Limited (IVL), the world’s largest producer of recycled PET for beverage bottles, completed a deal for an 85% equity stake in Czech Republic-based PET plastic recycler, UCY Polymers CZ s.r.o. (UCY), boosting the country and Europe’s plastic collection and recycling ambitions.

As a result of the investment, IVL will recycle about 1.12 billion additional post-consumer PET (polyethylene terephthalate) plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY across the Czech Republic, Germany and Central Europe to 1.6 billion bottles per year. IVL, a global sustainable chemicals company, is investing USD1.5 billion globally to expand recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 tons per year by 2025.

UCY is a strategic fit for IVL as a backward integration into the company’s expanding recycled PET (rPET) footprint in Europe and across the world to secure feedstock for rPET products. UCY can produce 40,000 tonnes of recycled PET flake per year. IVL will develop UCY to serve the increasing demand for recycled PET in Europe.

UCY will work with IVL’s existing PET flake production facilities in the region. These provide the washed and shredded post-consumer bottles as PET flake feedstock to produce recycled PET resin that is suitable for food contact use. PET is fully recyclable and the most collected and recycled plastic packaging in Europe.

(c) Indorama Ventures Public Company Limited
20.01.2022

Indorama Ventures’ Group CEO recognized among Top 40 Power Players

The Group CEO of Indorama Ventures Public Company Limited (IVL) has been ranked 12th in the Top 40 Power Players 2022 list announced by the leading chemical market information provider, Independent Commodity Intelligence Services (ICIS). The ranking consists of global CEOs and senior executives who are making the greatest positive impact on their companies and the chemical industry.

This recognition recognises Aloke Lohia’s distinction in leading IVL towards a more sustainable  and purposeful future. He is spearheading IVL’s efforts to meet its sustainability objectives, including strengthening its circular economy and PET recycling initiatives. The company pledged $1.5 billion in investments to meet green targets, including a commitment to increase its global PET recycling capacity to 750,000 tons per year by 2025.

The Group CEO of Indorama Ventures Public Company Limited (IVL) has been ranked 12th in the Top 40 Power Players 2022 list announced by the leading chemical market information provider, Independent Commodity Intelligence Services (ICIS). The ranking consists of global CEOs and senior executives who are making the greatest positive impact on their companies and the chemical industry.

This recognition recognises Aloke Lohia’s distinction in leading IVL towards a more sustainable  and purposeful future. He is spearheading IVL’s efforts to meet its sustainability objectives, including strengthening its circular economy and PET recycling initiatives. The company pledged $1.5 billion in investments to meet green targets, including a commitment to increase its global PET recycling capacity to 750,000 tons per year by 2025.

In 2021, IVL announced it is building a facility in Karawang, Indonesia, to recycle almost 2 billion plastic bottles a year in support of the government’s plan to reduce ocean debris. The company also completed a new PNDA unit in Decatur, Alabama, USA, making it the world’s largest producer. IVL also agreed to acquire Brazil-based Oxiteno, a leading integrated surfactant producer.

The Top 40 Power Players list ranks leaders who demonstrate excellence and vision in the areas of ESG (Environmental, Social, and Governance), innovation, M&A/portfolio management, projects, and profitability/shareholder value. The ICIS also revealed that ESG and sustainability have increasingly played more vital roles in this year’s ranking as they are clearly key components for future growth.