New partnership to recycle over 1.6 billion PET beverage bottles in the Czech Republic by 2025
Indorama Ventures Public Company Limited (IVL), the world’s largest producer of recycled PET for beverage bottles, completed a deal for an 85% equity stake in Czech Republic-based PET plastic recycler, UCY Polymers CZ s.r.o. (UCY), boosting the country and Europe’s plastic collection and recycling ambitions.
As a result of the investment, IVL will recycle about 1.12 billion additional post-consumer PET plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY across the Czech Republic, Germany and Central Europe to 1.6 billion bottles per year. IVL, a global chemicals company, is investing USD1.5 billion globally to expand recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 t/a by 2025.
UCY is a strategic fit for IVL as a backward integration into the company’s expanding recycled PET (rPET) footprint in Europe and across the world to secure feedstock for rPET products. UCY can produce 40,000 t/a of recycled PET flake. IVL will develop UCY to serve the increasing demand for recycled PET in Europe.
UCY will work with IVL’s existing PET flake production facilities in the region. These provide the washed and shredded post-consumer bottles as PET flake feedstock to produce recycled PET resin that is suitable for food contact use.
