Indorama Ventures Public Company Limited (IVL), the world's largest producer of recycled PET for beverage bottles, today completed a deal for an 85 percent 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.
Kòm yon rezilta nan envestisman an, IVL pral resikle apeprè 1.12 milya lòt boutèy plastik PET (polyethylene terephthalate) apre konsomatè nan Repiblik Tchekoslovaki chak ane pa 2025, ogmante total boutèy resikle pa UCY atravè Repiblik Tchekoslovaki, Almay. ak Ewòp Santral a 1.6 milya boutèy chak ane. IVL, yon konpayi mondyal pwodwi chimik dirab, ap envesti 1.5 milya dola nan lemonn pou elaji enstalasyon resiklaj ak pwodiksyon dirab, tankou ogmante kapasite resiklaj li a 750,000 tòn pa ane pa 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.
D K Agarwal, CEO and CFO at Indorama Ventures, said: "IVL will use our know-how to grow capacity and recycle more and more bottles. As part of our commitment to sustainability and the circular economy, we are building the recycling infrastructure needed to divert PET waste from the environment. By recycling post-consumer PET bottles into new bottles, we give waste an economic value. This drives improvements in waste collection systems, meaning less waste and a cleaner environment."
Yash Lohia, Chairman of ESG Council at Indorama Ventures, said: "Our partnership will strengthen the recycling ecosystem in the Czech Republic. This growth is made possible because of our customers' commitment to bottle-to-bottle recycling, which allows us to build the recycling infrastructure Europe needs."
Maximilian Josef Söllner, CEO, UCY, said, "We look forward to adding our robust supply of post-consumer bottles, well-established technology and proven management team to IVL. Expanding our capacity by 2025 means an extra 896 million more bottles will be recycled in our facilities compared with today."
