IVL, through its affiliate, Indorama Netherlands B.V., has entered into an Agreement for the Sale and Purchase of UCY with Maximilian Josef Söllner and the transaction has been completed today. 

 

UCY is a leading PET recycler in the Czech Republic who processes post-consumer PET into Recycled Polyethylene Terephthalate (rPET) flakes with  a total capacity of approx. 40,000 tonnes/annum.  

 

This acquisition is a strategic fit for IVL as a backward integration into the company’s expanding rPET  footprint in Europe and across the world to secure feedstock for rPET products. IVL is committed to increasing its recycling capacity to 750,000 tons per year by 2025, with a total US$1.5 billion investment to achieve its sustainability goals. 

 

The total value of consideration for the acquisition of an equity stake of 85% in UCY is approx. EUR 6.8  Million which  will  be  further  adjusted  in accordance with the terms stipulated under the Agreement for the Sale and Purchase of participation in UCY. The amount shall be paid in cash.