Indorama Ventures Public Company Limited (IVL), one of the world’s leading petrochemicals producers, has made an agreement to acquire Sorepla Industrie S.A., a plastics recycling facility in France.
Sorepla Industrie, founded in 1991, is one of the largest company in Europe, with three production facilities: Recycled Polyethylene Terephthalate (rPET), Recycled High-Density Polyethylene (rHDPE) and food-grade Pellets, with a total capacity of 52,000 tonnes/annum recycling plastics. Sorepla offers a consistently high quality of recycled PET material despite the fluctuations in the feedstock and meets customers’ specific needs in Packaging and Fibers.
IVL will consolidate its position in Europe with the acquisition of Sorepla to become one of the leaders in recycling that will open up new opportunities to serve increasing demand for food-grade rPET. Presently IVL has a significant recycling presence in France due to Wellman France Recyclage in Verdun, a subsidiary of IVL. Acquisition of Sorepla provides additional capabilities to the company to deliver food-grade rPET and serve increasing demand among major brand owners for more sustainable packaging solutions. Further, Sorepla is near to the existing recycling business of IVL.
“Indorama Ventures plays a key role in promoting the circular economy and environmental sustainability globally. We believe that the recycling of PET packaging is one of the most responsible solutions for the preservation of resources and the reduction of PET containers in landfills. Indorama Ventures is playing its part and investing in recycling solutions globally”, said, Aloke Lohia, Group CEO of Indorama Ventures.
Aloke Lohia, added, “With a comprehensive European network for bottle sourcing and good supply chain efficiencies, we feel that this acquisition will contribute as an attractive platform for strong future growth in the sustainable recycling business with the potential to expand globally.”