Indorama Ventures acquire French PET recycling company

Petrochemical producer Indorama Ventures (IV) has announced that it has acquired 100% share capital of Sorepla Technologie S.A. and its subsidiary, Société de Recyclage de Matières Plastiques (Sorepla Industrie) in France. 

It acquired the business through its indirect subsidiary, Wellman International Limited, and with Aeromaritime Systems Group.  

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Sorepla is a plastics recycler in Europe with a capacity of 52,000 metric tonnes annually, with the purchase fitting into IV’s long-term business and its sustainability objectives.  

The acquisition expands the company’s opportunity to meet the increase in demand for recycled PET.