IVL acquires Wellman International's recycling and fibre manufacturing business

Indorama Ventures Public Company Limited (IVL) signed a definitive share purchase agreement with WIT Beteiligungs GmbH and Wellman International Trading, affiliates of Aurelius AG to acquire 100% stake in the recycle and fibre manufacturing businesses of Wellman International in Europe. The acquisition is expected to be completed within 2011 subject to necessary regulatory approvals. The business has three production facilities in Europe: a polyester fibre plant based in Mullagh, Ireland, with output of more than 80,000 tonnes; recycling plants in Spijk, the Netherlands with output of 45,000 tonnes; and Verdun, France with output of 28,000 tonnes. The plant in Ireland is capable of converting waste polyester into 100% recycled fibre. Post consumer recycled bottles are flaked and processed with other waste material to produce fibres that can be used in a variety of premium applications, such as in the hygiene industry. The target acquisition has the know-how to blend recycled PET (rPET) and industrial waste and will potentially contribute to make Indorama Ventures a‘zero waste'company”with low carbon footprint.
www.indoramaventures.com