Indorama Ventures’ Acquisition of CarbonLite’s Texas PET Recycling

Lowenstein represented Indorama Ventures in the transaction.

Indorama Ventures (BKK: IVL), a global chemicals producer, completed its acquisition of CarbonLite Holdings’ facility in Texas as part of IVL’s commitment to increasing PET recycling capacity.

Now known as Indorama Ventures Sustainable Recycling (IVSR), the Dallas site is one of the largest producers of food-grade recycled pellets (Recycled Polyethylene Terephthalate or rPET) in the United States, with a combined capacity of 92,000 tons annually. The facility will recycle more than 3 billion PET plastic beverage bottles per year and support more than 130 jobs directly. IVL is the world’s largest producer of recycled PET for beverage bottles. With this acquisition, IVL expands its U.S. recycling capacity to 10 billion beverage bottles per year, towards its global target of recycling 50 billion bottles (750,000 metric tons) annually by 2025.

Thailand-based Indorama Ventures entered the U.S. PET market in 2003. In 2019, the company acquired recycling facilities in Alabama and California, bringing a circular business model to its U.S. operations. The new acquisition in Texas allows IVL to better serve customers’ increasing need for recycled PET for beverage bottles. America’s leading beverage companies have launched the ”Every Bottle Back” project to support the circular plastics economy by reinforcing the value of their fully recyclable PET bottles among consumers.

The Lowenstein Sandler deal team included Nicholas San Filippo IV (Picture), Sam E. Khan, Mitchell McDonald, Danielle M. Falzone, Diana Kim, Emily B. Sklar, Megan Williams, and Latoya Bethune (Corporate); Robert M. Hirsh and Jeremy D. Merkin (Bankruptcy & Restructuring Department); Brian A. Silikovitz, Kristin V. Taylor, and Sartaz Singh (Tax); Norman W. Spindel and Zachary L. Berliner (Environmental Law & Litigation); Stuart S. Yusem and Stephen Tanico (Real Estate); Megan Monson and Taryn E. Cannataro (Employee Benefits & Executive Compensation); Bryan Sterba, Jenna-Marie Tracy, and Oluwaseyi  O. Amorin (The Tech Group); Edgar R. Hidalgo CIPP/US  (Privacy & Cybersecurity); Doreen M. Edelman, Abbey E. Baker, and Christian C. Contardo (Global Trade & Policy); and Eric Jesse (Insurance Recovery).

Involved fees earner: Oluwaseyi Amorin – Lowenstein Sandler; Abbey Baker – Lowenstein Sandler; Zachary Berliner – Lowenstein Sandler; Latoya Bethune – Lowenstein Sandler; Taryn Cannataro – Lowenstein Sandler; Christian Contardo – Lowenstein Sandler; Doreen Edelman – Lowenstein Sandler; Danielle Falzone – Lowenstein Sandler; Edgar Hidalgo – Lowenstein Sandler; Robert Hirsh – Lowenstein Sandler; Eric Jesse – Lowenstein Sandler; Sam Khan – Lowenstein Sandler; Mitchell McDonald – Lowenstein Sandler; Jeremy Merkin – Lowenstein Sandler; Megan Monson – Lowenstein Sandler; Nicholas San Filippo IV – Lowenstein Sandler; Brian Silikovitz – Lowenstein Sandler; Sartaz Singh – Lowenstein Sandler; Emily Sklar – Lowenstein Sandler; Norman Spindel – Lowenstein Sandler; Bryan Sterba – Lowenstein Sandler; Stephen Tanico – Lowenstein Sandler; Kristin Taylor – Lowenstein Sandler; Jenna-Marie Tracy – Lowenstein Sandler; Megan Williams – Lowenstein Sandler; Stuart Yusem – Lowenstein Sandler;

Law Firms: Lowenstein Sandler;

Clients: Indorama Ventures Public Company Limited;

Author: Martina Bellini