Petrochemical
Indorama completes acquisition of CarbonLite's rPET assets
Company has taken charge of the plant effective from 11th June 2021.
- By ICN Bureau
| June 14, 2021
Indorama Ventures Public Company Limited has completed all formalities with regards to the acquisition of CarbonLite's rPET assets in Texas, USA and the company has taken charge of the plant effective from 11th June 2021.
The purchase value for the transaction is equivalent to approx. USD 68.2 million (equivalent to approx.2,119.997 million Baht), including net working capital.
CarbonLite Holdings is a significant rPET producer in USA (currently under Chapter 11 of the United States Bankruptcy Code) with long standing relationships with major brands. The assets to be acquired are located in Dallas, Texas, USA with a combined capacity of approx. 92 kilotons per annum, consisting of 48 kilotons of rPET pellets and 44 kilotons of flakes.
This recycling acquisition would facilitate IVL coming closer to its rPET commitment of 750 kilotons per annum by 2025.The value of the above transaction for IVL, calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, as prescribed by the regulations of the Stock Exchange of Thailand.
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