IVL to acquire European recycler
- Published: 22/09/2011 at 03:17 AM
- Newspaper section: Business
SET-listed Indorama Ventures Plc (IVL), the world's largest polyester-chain manufacturer, said it will acquire the recycling business in Europe of Wellman International from Aurelius AG.
The acquisition, the value of which was not disclosed, is expected to be completed within 2011, the company said.
CEO Aloke Lohia said Wellman had expertise in blending recycled polyethylene terephthalate (rPET) and industrial waste and could potentially contribute to make IVL a "zero waste" company with a low carbon footprint serving both the beverage and fibre customer markets.
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