Indorama Ventures Ltd (IVL) has competed the acquisition of the recycled polyethylene terephthalic (R-PET) assets of CarbonLite Holdings and its subsidiaries in Dallas, Texas, the Thailand-listed producer said today, ICIS.com reported. IVL has completed all formalities with regards to the acquisition "and has taken charge of the plant effective from 11 June 2021", it said in a filing to the Stock Exchange of Thailand. IVL won a $63.8m bid for CarbonLite's Dallas rPET facility during a May 24 auction. CarbonLite in March this year filed for chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware citing pressures stemming from the coronavirus pandemic, among other factors.
