Daniel Solomita, founder and CEO of Loop Industries said that, “We are excited to launch this partnership with Indorama Ventures, who provide a global leadership platform in petrochemical manufacturing and a shared commitment to sustainability.
Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments. rPET resin is widely used for beverage and food packaging, also has fibre applications in Europe, a sector in which IVL holds a leadership supplier position. The demand for food-grade rPET in Western Europe is can grow at a CAGR of 7% from 2018-2021 and is currently overtaking supply.
Indorama is focused on balancing market needs for recyclable PET packaging, which has faced unparalleled economic challenges over last several years leading to uncompetitive supplies and disturbances in recent times.
The facility in Egypt will lead to easing supply concerns in North Africa and in the Common Market for Eastern and Southern Africa (COMESA) as well as the markets covered by the several Free Trade Agreements (FTA) which Egypt is a signatory to.
DaFon International in Taiwan has created a range of moisture-wicking, quick-drying, breathable knits combining CoolVisions filament with polyester, picked up by local performance brand Santo for its Win-Fit collection.
The approved investments will be in the form of equipment that will affect all of the processes — polycondensation, spinning and textile processing — at the Guben site where Trevira produces filament specialties for the textile industry. A total sum of approx. 7.5 million euros is scheduled to be invested. These investments will generate additional quantitative growth and optimize processes and procedures at Trevira’s site in Guben where flat and texturized filament yarns are produced for automotive interiors, technical textiles, apparel, and home textiles.
Japanese company Toyobo, intends to build a manufacturing facility to double the production capacity of air bag fabric by fiscal 2020 at a local plant of German thread maker PHP, in which they will spend some 10 billion yen ($85.1 million) with Thailand textile giant Indorama Ventures, responding to growing demand.
In the U.S., Toyobo will double capacity in fiscal 2017 by adding equipment that turns nylon thread into air bag fabrics and resin-coating machines that strengthen the fabrics at a plant in the state of Alabama.
Indorama Ventures to revamp the abandoned ethane cracker site in Carlyss, Louisiana, which has sat idle on a 250-acre site since 2001 took a critical step towards breaking ground at the dormant Occidental Chemical Corp and proceed construction investing $175 million after receiving the air and water permits required.
Officials with Indorama Ventures said that issuance of a water permit in June and air permit in August keeps it on track for a scheduled fourth quarter 2017 startup.
Indorama Ventures’ majority-owned Lake Charles, La., gas cracker has received an air permit from U.S authorities signifying an important step forward in maintaining the plant’s startup schedule that will produce ethylene from shale gas.
The air permit, which is the main environmental permit required by the company in order to proceed with refurbishment of the cracker, allows the project to commence the repair and construction activities at the site a month ahead of the original target date.
Indorama Ventures Public Co. Ltd., one of the world’s leading petrochemical producers and a leading global manufacturer of PET resins, fibers, filaments is planning to add 15,000 tons of extrusion-based fiber spinning capacity to the Auriga Polymers manufacturing site in Spartanburg, S.C. which acquired by Indorama Ventures in 2011.
