Indorama Ventures Acquires Green Fiber International

An Indorama Ventures Public Company Limited (IVL) press release announced 3 December 2019 that it has, through its indirect subsidiary Indorama Ventures Holdings LP, signed a definitive Share Purchase Agreement on 3rd December 2019 with LQ Inc. to acquire 100% equity stake of Green Fiber International Inc. (“GFI”), a company incorporated in USA and having plastics recycling facility in Fontana, California, USA.

The facility produces primarily Recycled Polyethylene Terephthalate (rPET) Flake with a combined capacity of 40,000 tonnes/annum.

This acquisition is strategically in-line with the IVL’s long-term sustainability objectives and part of the company’s stated plan to invest significantly in recycling over the next five years. The proximity of the facility to a large supply of recovered PET bottles on the US West Coast will create new opportunities to meet the increasing demand for rPET in more sustainable packaging solutions.

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.

This transaction is also completed as of 3rd December 2019. Please be informed accordingly.