Thailand’s IVL completes acquisition of CarbonLite R-PET assets in US

SINGAPORE (ICIS)–Indorama Ventures Ltd (IVL) has competed the acquisition of the recycled polyethylene terephthalic (R-PET) assets of CarbonLite Holdings and its subsidiaries in Dallas, Texas, the Thailand-listed producer said on Monday.

IVL has completed all formalities with regards to the acquisition “and has taken charge of the plant effective from 11 June 2021”, it said in a filing to the Stock Exchange of Thailand.

IVL won a $63.8m bid for CarbonLite’s Dallas rPET facility during a May 24 auction.

CarbonLite in March this year filed for Chapter 11 bankruptcy at the US Bankruptcy Court, Delaware District, citing pressures stemming from the coronavirus pandemic, among other factors.