- In July 2024, Indorama Ventures announced plans to expand its PET recycling facility in Poland, increasing its recycling capacity by 20%. This strategic move supports the European Union’s Circular Economy Action Plan, which sets ambitious recycling targets for PET by 2025. The expansion will contribute to more sustainable packaging solutions and meet growing environmental demands
- In March 2024, Eastman Chemical Company expanded its PBT production line in the United States to address the increasing demand from the automotive and electronics sectors. This expansion aligns with U.S. government efforts to promote advanced manufacturing, enhance the sustainability of the automotive industry, and reduce its carbon footprint through innovative material solutions
- In June 2022, Alpek acquired OCTAL, boosting its PET resin production capacity by 576,000 tons annually. This acquisition allows Alpek to meet the growing demand for PET from various industries, including packaging and textiles. With enhanced production capabilities, Alpek strengthens its position as a leader in the global PET market and offers superior products
- In February 2022, Alpek finalized its acquisition of OCTAL Holding SAOC, significantly enhancing its global market presence. This strategic purchase increases Alpek’s capacity for producing high-quality PET sheets, meeting the growing demand in diverse industries. The acquisition positions Alpek as a stronger player in the global PET production and distribution landscape
- In January 2022, Indorama Ventures proposed acquiring NN, a Vietnamese PET converter, as part of its strategy to strengthen its position in the fast-growing packaging sector in Asia-Pacific. The acquisition aims to enhance Indorama’s presence in key markets and expand its capabilities in producing high-quality PET products, aligning with the region’s rising demand for sustainable packaging
