GLOBAL chemical producer Indorama Ventures Public Company Limited (IVL) said it has joined hands with the Recycling Partnership.
Recycling Partnership is a non-profit leader improving how America recycles.
IVL’s collaboration with the Recycling Partnership will promote the US residential recycling rates and increase the availability of recycled polyethylene terephthalate (PET) to meet the global recycled content commitments, the company said in a statement on Thursday (21).
The Recycling Partnership is the only organisation in the US that engages the full recycling supply chain from corporations that manufacture products and packaging to local governments charged with recycling, industry end-markets, haulers, material recovery facilities and converters.
The Thai-listed firm is among a growing list of 46 organisations and the Recycling Partnership funders, including PepsiCo, Coca-Cola, Target, Amazon, Keurig-Dr. Pepper, and Colgate-Palmolive, who are trying to transform the US recycling system for the good of the economy, communities and planet.
Indorama Ventures plays a key role in promoting the circular economy and environmental sustainability globally.
Yashovardhan Lohia, Executive Director and Chief Recycling Officer of Indorama Ventures, said: “…We see the recycling of PET at the very core of our contribution to the global effort to create a circular economy, which is why we are investing US$1.5 billion in improving recycling throughout the world with partners such as the Recycling Partnership.
Supporting the change agents’ efforts to make real, measurable, change to capture as much quality recyclable material as possible in communities across the US is critical to manufacturers such as Indorama Ventures, who want to decrease the amount of PET material going to landfill and losing the value from recycling…”
Indian-origin billionaire Sri Prakash Lohia-led Indorama has approximately 20,000 employees worldwide with a consolidated revenue of $10.7 billion (£8 billion) in 2018.
Sri Prakash Lohia owns about one-third of the company.
Along with its affiliate Indorama Ventures in Thailand, Indorama Corporation, headquartered in Indonesia, operates over 70 manufacturing sites in more than 30 countries and employs over 30,000 people worldwide.
Indorama Corporation is the holding company of eight affiliates of Sri Prakash Lohia’s businesses spread around the world, including Indorama Synthetics, Indonesia; Indorama Eleme, Nigeria; Indorama Industries, India; and Indorama Ventures, Thailand.
Lohia was born and brought up in Kolkata, India. However, the Indorama story truly begins in Indonesia for it was there that he relocated with his garment-manufacturing father, Mohan Lal, in the early 1970s.