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Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced that it has entered into an agreement to acquire INVISTA Resins & Fibers GmbH, which owns a high value-added PET manufacturing facility located in Gersthofen, Germany. The Gersthofen site has a combined capacity of 282,000 tonnes/ annum.

The transaction is expected to be completed in the 1st quarter 2019, subject to regulatory approvals.

IVL will own the intellectual property rights of POLYSHIELD PET and OXYCLEAR Barrier PET, Invista’s barrier technology, in all markets globally. POLYSHIELD PET and OXYCLEAR Barrier PET brands are well-anchored in oxygen barrier packaging.

Together with IVL’s HVA polymer business in America’s, Gersthofen will open new opportunities in several new markets and attractive segments.

PET packaging with an oxygen barrier is mainly used by the food and beverage industry to protect oxygen-sensitive products, such as juice, wine, beer, dairy as well as ketchup, sauces and other condiments throughout their entire shelf life.

Demand for barrier resins is expected to grow at a strong pace, driven by the improved shelf life of packaged food products, the increasing health and hygiene concerns and the emergence of new recyclable PET applications over traditional materials such as glass and aluminum cans.

Currently, IVL has a leading market share in the North America oxygen barrier PET market.

Commenting on the acquisition, Mr. Aloke Lohia, Group CEO of Indorama Ventures said, “This is very exciting development for IVL. With our strong foundation in the PET market and IVL’s geographic reach, we see vast opportunities to grow the POLYSHIELD PET and OXYCLEAR Barrier PET brands to their full potential, and reach existing and new customers around the world."

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