Indorama Ventures Ltd. (IVL) has bought 100% equity shares in AG Resinas Ltda. which operates a polyethylene terephthalate (PET) recycling facility in Juiz de Fora, Brazil.
The acquisition was done through IVL’s indirect subsidiary Indorama Ventures Polimeros S.A. and the transaction was completed on Monday.
AG Reginas processes post-consumer PET into recycled polyethylene terephthalate (rPET) flakes and pellets. The facility’s combined capacity is 9,000 mtpa. The location is in close proximity with a large supply of recovered PET bottles which benefits the production.
The acquisition is in line with IVL’s plan to widen its PET business’ impact in Brazil.
