Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced it has entered into a definitive agreement to acquire Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat), a PET recycling facility in Poland.
The acquisition consists of two assets, strategically located in Bielsko-Biala and Leczyca, close to the major population centers of Kraków and Warsaw.
The production sites have a combined capacity of 23,000 tonnes of recycled Polyethylene Terephthalate (rPET) flakes and 4,000 tonnes of rPET pellets.
The acquisition is expected to close in the third quarter of 2020, subject to regulatory approvals.
IMP Polowat has a solid presence as one of the leading PET recyclers in Poland. This acquisition is consistent with IVL’s ambitious target in scaling its recycling capacity to reach 750,000 tonnes by 2025. It also adds an attractive recycling platform for IVL in Eastern Europe, and will open up new opportunities to meet the increasing rPET demand for more sustainable packaging solutions. The combination of access to local bottle supply and trusted product quality will secure opportunity for IVL for growth and expansion over time.
Poland is a strategic market for IVL, and has made significant progress on waste management and recycling. With 260,000 tonnes of PET bottle consumption in Poland, and active discussion about a Deposit Return Scheme and improved collection, there is a significant opportunity to increase capacity and capitalize on the growing demand for rPET.
