Indorama Ventures acquires Green Fiber International

Indorama Ventures Public Co. Ltd., a global chemical manufacturer based in Bangkok, has acquired Green Fiber International Inc. (GFI), a recycling company in Fontana, California. The facility can produce 40,000 metric tons per year of recycled polyethylene terephthalate (rPET) flakes, Indorama Ventures states in a news release on the acquisition.

This acquisition extends Indorama Ventures’ recycled flake supply chain to the West Coast, the company says. GFI offers high-quality rPET bottle flakes that can be used to manufacture food-contact materials. The company’s rPET flakes have been used in the U.S. West Coast packaging market since 2018.

According to Indorama Ventures, the acquisition is in line with its long-term sustainability objectives and is part of the company’s stated plan to invest significantly in recycling over the next five years. The proximity of the facility to a large supply of recovered PET bottles on the West Coast will create new opportunities to meet the increasing demand for rPET in more sustainable packaging solutions, the company adds. 

“We are really excited to have completed the acquisition of Green Fiber International and welcome GFI’s employees to the Indorama Ventures family,” says Yashovardhan Lohia, executive director and chief recycling officer at Indorama Ventures. “At Indorama Ventures, we play a key role in promoting the circular economy and environmental sustainability globally by pursuing the right opportunities to fill gaps that are intrinsic to a sustainable future. We strongly feel that this acquisition will contribute to profitable future growth in the sustainable recycling business with the potential to expand further.”