Thai PET producer Indorama Ventures has signed an agreement to buy Wellman International’s recycling unit and related firm MJR Recycling from holding company Aurelius.

Indorama said the acquisition, which is expected to be completed by the end of 2011, aims to meet consumer demand for more recycling of post consumer products and pursue customers’ sustainability needs.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Group CEO Aloke Lohia said the target acquisition will help to make Indorama a ‘zero waste’ company with a low carbon footprint.

Wellman International has three production facilities in Europe with over 153,000t of output a year. It recycles PET bottles, as well as produces polyester staple fibre products and rPET.

Packaging Gateway Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Packaging Gateway Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now