Sorepla Industrie has been sold to Indorama Ventures
The Thai-listed group Indorama Ventures Public Company Limited IVL (€8.5bn market capitalization), present in 27 countries throughout 77 facilities (16,000 employees), has completed the acquisition of Sorepla Industrie via its European subsidiary Wellman International.
Founded in 1991, Sorepla Industrie is currently one of the major European market players in the plastic bottle recycling industry with a total capacity of 52,000 tons/year of bottles treated (20% of market shares in France). Its Neufchâteau site comprises 3 production lines: rPET (Recycled Polyethylene Terephthalate), rHDPE (Recycled High Density Polyethylene) and a production line dedicated to pellets for food applications.
Thanks to this acquisition, Indorama Europe will be able to supply large groups of the food industry looking for high-quality sustainable packaging solutions. Following this process managed by Lincoln International, IVL consolidates its leading position in PET recycling and meets an ever growing demand in rPET that is notably designed for food applications. Demand now exceeds supply in Western Europe, with an expected annual growth rate greater than 7% between 2018 and 2021 according to IVL.
“The disposal of Sorepla Industrie, which is the last independent recycling site from large French industrial groups, confirms the consolidation of a particularly dynamic industry. It is driven by public targets defined by the French government that ambitions to make all plastics recycled by 2025. In a competitive process involving international bidders, Lincoln International helped us qualify the best buyer that would ensure the continuity of the activity and would best leverage current production capabilities attracting more materials upstream,” states Haissam Dib, representative of Aeromaritime Systems Group B.V, the seller.
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