Page 52 - Plastcs News January 2019

Business news

Loop Industries, Thyssenkrupp Indorama Ventures to take over

sign agreement Invista Resins & Fibers GmbH

ontreal-based Loop Industries Inc., a technology ndorama Ventures Public Company Limited (IVL),
Minnovator in sustainable plastic, and Essen, Germany- Iheadquartered in Bangkok, Thailand, a global
based Thyssenkrupp Industrial Solutions’ division Uhde chemical producer has taken over INVISTA Resins &
Inventa-Fischer GmbH have announced a strategic alliance Fibers GmbH, which owns a high value-added PET
to integrate their technologies and provide a turnkey solution manufacturing facility located in Gersthofen, Germany.
that can be licensed to companies seeking technology to The Gersthofen site has an installed capacity of 282,000
produce sustainable tonnes/ annum. The takeover transaction is expected
po lyethylene to be completed in the 1st quarter of 2019, subject to
terephthalate (PET) regulatory approvals. Invista Gersthofen and IVL follow a
common strategy to grow and support customer’s needs
and polyester. “We with differentiated solutions in both packaging and in
have successfully industrial fibers. IVL will own the intellectual property
established a large rights of POLYSHIELD PET and OXYCLEAR Barrier PET,
variety of patented Invista’s barrier technology, in all markets globally.
technologies and POLYSHIELD PET and OXYCLEAR Barrier PET brands are
processes in the associated with oxygen barrier packaging i.e. Ketchup.
global market,” says Gersthofen and IVL’s HVA polymer business in America’s
Sami Pelkonen, CEO of the electrolysis and polymers will provide many new opportunities in a number of new
technologies business unit of Thyssenkrupp Industrial markets and attractive segments. Aloke Lohia, Group
Solutions, in a news release announcing the agreement. CEO of Indorama Ventures, said, “This is very exciting
“This agreement will enable a very resource efficient and development for IVL. With our strong foundation in
cost-attractive solution for the production of sustainable the PET market and IVL’s geographic reach, we see
PET and polyester. The alliance with Loop Industries is an vast opportunities to grow the POLYSHIELD PET and
important milestone on the way to producing sustainable OXYCLEAR Barrier PET brands to their full potential,
PET and polyester.” “This Global Alliance Agreement allows and reach existing and new customers around the
for Loop’s technology to rapidly transform the plastic world”. He, added, “We are already capitalizing
on the opportunities in the U.S. market, one of the
market and fully capitalize on our disruptive potential largest barrier resins markets in the world – through
as the leader in the circular economy for PET plastic,” our existing OXYCLEAR Barrier PET license in America’s.
says Daniel Solomita, founder and CEO of Loop Industries.
“Thyssenkrupp’s extensive engineering expertise and
proven Melt-To-Resin technology provides Loop with a
world-class partner to bring the Waste-to-Resin (WTR)
manufacturing solution to market.” Solomita adds, “WTR
is a key pillar of Loop’s commercialization blueprint to
meet global demand from consumer packaged goods and
other brands for Loop branded sustainable resin. We plan to
license the respective technologies developed by Loop and
Thyssenkrupp Industrial Solutions to manufacturing partners
in geographical regions around the world in order to quickly This strategic acquisition will evolve IVL to the next
roll out multiple WTR plants over the next decade. Loop level of success by taking advantage of opportunities
and Thyssenkrupp Industrial Solutions say they have already in global markets. With this acquisition, we reinforce
begun the integration assessment and are collaborating on our commitment to deliver the highest value to our
customers and create sustainable long-term value for
the WTR process design package ready for license to global our shareholders.”
manufacturing companies.

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