Indorama to acquire Invista asset in Germany
Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced that it has entered into an agreement to acquire Invista Resins & Fibers GmbH, which owns a PET manufacturing facility located in Gersthofen, Germany. The Gersthofen site has a combined capacity of 282,000t/a, and employs approximately 140 employees. The transaction is expected to be completed in the 1st quarter 2019, subject to regulatory approvals.
Invista Gersthofen is seen as a strong strategic fit with IVL, aligned with their strategy to grow in both packaging and in industrial fibres. IVL will own the intellectual property rights of Polyshield PET and Oxyclear Barrier PET, Invista’s barrier technology, in all markets globally. Polyshield PET and Oxyclear Barrier PET brands are well-anchored in oxygen barrier packaging i.e. Ketchup. Together with IVL’s HVA polymer business in America’s, Gersthofen is intended to open new opportunities in several new markets and attractive segments.
PET packaging with an oxygen barrier is mainly used by the food and beverage industry to protect oxygen-sensitive products, such as juice, wine, beer, dairy as well as ketchup, sauces and other condiments throughout their entire shelf life. Demand for barrier resins is expected to grow at a strong pace, driven by the improved shelf life of packaged food products, the increasing health and hygiene concerns and the emergence of new recyclable PET applications over traditional materials such as glass and aluminium cans.
