Global chemicals producer Indorama Ventures Public Company Limited (IVL) is purchasing Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością - IMP Polowat -, a PET recycling facility in Poland. The acquisition consists of two assets, strategically located in Bielsko-Biala and Leczyca, close to the major population centres of Kraków and Warsaw and is expected to close in the third quarter of 2020, subject to regulatory approvals.
The deal further strengthens the Thai company’s presence in the Polish market, which dates back to 2011, when the company acquired an integrated PET asset in Wloclawek.
IVL views Poland as a strategic market. The country has made significant progress on waste management and recycling. With an annual PET bottle consumption of 260,000 tonnes, the ongoing discussion on the implementation of a deposit return scheme and the steadily improving collection rates, IVL sees a significant opportunity to increase capacity and capitalize on the growing demand for rPET. The combination of access to local bottle supply and trusted product quality will secure opportunity for IVL for growth and expansion over time, said the company
With a combined production capacity 23,000 tonnes of recycled rPET flakes and 4,000 tonnes of rPET pellets IMP Polowat, ranks as one of the leading PET recyclers in Poland. The company employs a workforce of 118 people.
“IMP Polowat represents a strategic fit for us,” said Yashovardhan Lohia, executive director and head of Sustainability at Indorama Ventures.
The acquisition is in line with IVL’s aim to reach a recycling capacity of 750,000 tonnes per year by 2025. The company is investing US$ 1.5 billion to achieve this goal.