Acquisition of PET Recycling Business in France

Ref.No.IVL004/07/2018

 

31st July 2018

 

President

The Stock Exchange of Thailand

 

 

Subject:      Acquisition of PET Recycling Business in France

 

Indorama Ventures Public Company Limited (“IVL” or the “Company”) would like to inform that it has, through its indirect subsidiary, Wellman International Limited, signed a definitive Share Purchase Agreement on July 30th, 2018 with Aeromaritime Systems Group B.V. for the acquisition of 100% of the share capital of Sorepla Technologie S.A. and its subsidiary, namely Société de Recyclage de Matières Plastiques (Sorepla Industrie) S.A., in France (“Sorepla”).

 

Sorepla is one of the largest plastics recycler in Europe with a capacity of 52,000 Mt per annum. The acquisition fits into IVL’s long term business as well as our sustainability objectives and signifies our position as a leading recycler in Europe supporting the circular economy. This acquisition expands the opportunity to cater to the increase in demand for Recycled PET.

 

The value of the above acquisition, calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, as prescribed by the regulations of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (as amended), is less than 15 percent and the total size of all transactions in the past 6 months also does not exceed the 15 percent threshold limits as prescribed in the regulations.

 

The transaction closes with immediate effect

 

For further information, you may refer to our website where a presentation on the acquisition of Sorepla has been uploaded.

 

Please be informed accordingly.

 

 

Yours faithfully,

 

 

 

(Mr. Souvik Roy Chowdhury)

 

Company Secretary

 

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