PETnews 6 NEWS PETplanet Insider Vol. 25 No. 09/24 www.petpla.net Indorama Ventures, Dhunseri and Varun beverages joint venture plans multiple recycling facilities in India Indorama Ventures Public Company Limited, through its direct subsidiary – IVL Dhunseri Petrochem Industries Limited – and Dhunseri Ventures Limited have formed a joint venture with Varun Beverages Limited, PepsiCo’s second-largest bottling company globally outside the US, to establ ish several greenfield state-of-the-art PET recycling facilities in India. The joint venture has already begun the construction of two PET recycling facilities, planned for completion within 2025, with potential for more. One facility is in Kathua within the Jammu Division of the Indian Union territory of Jammu and Kashmir, situated in Northern India, while the other is in Khurdha within the State of Odisha, located in Eastern India. The aim is to reach 100 kt/a capacity of recycled PET across all the facilities when combined. This initiative aligns with the escalating demand for rPET content in India, driven by both regulatory mandates and a collective effort towards a circular economy for PET. The surge in demand reflects a significant shift, with projected volumes increasing from approximately 400 kt in 2025-2026 to over 1 million tons by 2031. Mandates such as the Indian government’s compulsory requirement of 30% recycled plastic content in plastic packaging by 2025-2026, escalating to 60% by 2028-2029, underscores the urgency and importance of this transformation. Moreover, this move aims to effectively cater to the needs of India’s beverage brand owners, many of whom have established ambitious sustainability goals in line with regulatory directions. The amalgamation of the three industry leaders is claimed to bode well for bolstering the region’s recycling infrastructure. As regulatory frameworks increasingly advocate for heightened usage of recycled content, the joint venture is positioned to play a pivotal role in meeting these evolving requirements. Indorama Ventures is the world’s largest producer of rPET resins widely used in food and beverage packaging. Since 2011, the company has operated PET recycling facilities, gradually expanding its global footprint. www.indoramaventures.com Husky Technologies announces leadership transition: Bradley Selleck appointed CEO, John Galt to become Chairman Hu s k y Te c h n o l o g i e s announced that Chief Operating Officer Bradley Selleck will assume the role of CEO, effective October 1st. The current CEO, John Galt, will transition to the role of Chairman. This leadership change is part of a long-term succession plan designed to maintain stability and position the company for continued growth. Husky, a portfolio company of Platinum Equity, is a global provider of innovative solutions and services primarily for the beverage, consumer goods and medical device markets. “John has been preparing the company for this for several years and I commend him and the team for taking such a thoughtful and deliberate approach,” said Louis Samson, Co-President of Platinum Equity. “Brad is a uniquely talented executive and key architect of the company’s current operating model. He has made a material and multi-faceted contribution to Husky since joining approximately three years ago and has proven beyond any doubt that he’s up to the task and ready to take the reins.” Galt has been with Husky since 1985 and served as CEO since 2005. During his tenure, he played a central role in the company’s transformation into a global leader in industrial technology. In recent years, Galt has worked closely with Selleck and the management team to strengthen the company’s market strategy, with an increased focus on sustainability and essential markets. Selleck joined Husky in 2022, bringing more than 25 years of experience in operations and supply chain management. As CEO, he plans to continue advancing the company’s strategic priorities, including sustainable practices and innovation. Galt will continue to play an active role in the company as Chairman, with a focus on sustainability advocacy and supporting the leadership team in areas such as customer and investor relations. www.husky.co Yash Lohia, representative of IVL Dhunseri, and Executive President Petchem Special Projects, and Chairman of the ESG Council of Indorama Ventures
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