Indorama Ventures PCL, the world’s largest Polyester Value Chain producer, has signed an agreement to acquire Wellman International’s recycling business in Europe from AURELIUS AG, to pursue customers’ sustainability needs and meet the demands of consumers for more recycling of post consumer products.

The Board of Directors approved the acquisition as this will be strategically in line with the Company’s objectives of long-term sustainability and an overall lowering of the Company’s impact on the environment globally. The acquisition is expected to be completed within 2011, subject to necessary regulatory approvals.

Group CEO Mr. Aloke Lohia said, “Wellman International’s technology will one day potentially make Indorama Ventures a ‘zero waste’ company with a low carbon footprint.”
Wellman International has facilities in Mullagh, the Republic of Ireland and recycling plants at Spijk in the Netherlands and Verdun in France.
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