World’s leading petrochemicals producer - Indorama Ventures has announced that it has entered an agreement to acquire INVISTA Resins & Fibers’ assets in Germany. Under the agreement, Indorama will acquire Invista’s high value-added PET manufacturing facility located in Gersthofen, Germany.
The plant that has a combined capacity of 282,000 tonnes per annum, will be acquired by Indorama in the 1st quarter 2019, after regulatory approvals.
After the acquisition, IVL will have full ownership of intellectual property rights of Invista’s barrier technology - POLYSHIELD® PET and OXYCLEAR® Barrier PET – across all markets globally.
As demand for barrier resins is expected to grow rapidly, the new acquisition will help IVL to grow and support its customer’s needs with differentiated solutions in both packaging and in industrial fibers. Barrier technology improves shelf life of packaged food products such as juice, wine, beer, dairy as well as ketchup, sauces and other condiments.
Frank Embs, Director New Business Development, Indorama Ventures shares more about – ‘Indorama's new European strategy post the Invista Europe acquisition’ at CMT’s 20th GEPET & Recycling Summit on 8-9 May, 2019 in Madrid.