IMP Polowat consists of two production sites located in Bielsko-Biala and Leczyca, Poland and processes post-consumer PET into Recycled Polyethylene Terephthalate (rPET) flakes and pellets, with a combined capacity of approx. 27,000 tonnes/annum, consisting of 23,000 tonnes rPET flakes and 4,000 tonnes of rPET pellets.
This facility will be an attractive recycling platform for IVL in Eastern Europe, and will open up new opportunities to meet the increasing rPET demand for more sustainable packaging solutions. The combination of access to local bottle supply and trusted product quality will secure opportunity for IVL for growth and expansion over time.
The acquisition is consistent with IVL’s ambitious target in scaling its recycling capacity to reach 750,000 tonnes by 2025.
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 expected to be completed in the third quarter of 2020, subject to regulatory approvals.