Indorama Ventures Public Co. Ltd. (IVL) announced on June 14, 2021, completion of the acquisition of the assets of CarbonLite, a significant recycled polyethylene terephthalate (rPET) producer, at a bankruptcy auction.
IVL made the winning bid to acquire the rPET assets of CarbonLite Holdings LLC and its subsidiaries, according to a May 27, 2021, announcement. CarbonLite filed for Chapter 11 bankruptcy earlier this year, but had long-standing relationships with major brands. The assets acquired are located in Dallas, TX, with a combined capacity of approximately 92 kilotons per annum, consisting of 48 kilotons of rPET pellets and 44 kilotons of flakes.
The acquisition brings IVL closer to its rPET commitment of 750 kilotons per annum by 2025, said IVL’s announcement.