Indorama Ventures Public Co. Ltd. (IVL; Bangkok, Thailand; www.indoramaventures.com), through its indirect subsidiary Indorama Ventures Holdings LP, signed a definitive Share Purchase Agreement with LQ Inc. to acquire 100% equity stake of Green Fiber International Inc. (GFI), a company that operates a plastics recycling facility in Fontana, California. This facility produces primarily Recycled Polyethylene Terephthalate (rPET) Flake with a combined capacity of 40,000 metric tons per year (m.t./yr).
The proximity of the facility to a large supply of recovered PET bottles on the U.S. West Coast will create new opportunities to meet the increasing demand for rPET in more sustainable packaging solutions.