IVL acquires INVISTA German packaging company
The Gersthofen site has a combined capacity of 282,000 tonnes a year and employs approximately 140 employees.
“This is an exciting step forward that will lead us to further accelerate our transformation,” said Aloke Lohia, group CEO, IVL.
“We are excited to welcome the INVISTA team to the IVL family, and look forward to growing the Polyshield PET and Oxyclear Barrier PET brands to their full potential.”
IVL announced its decision to acquire INVISTA Resins & Fibers in December last year.
The deal is in line with the company’s strategy to grow and support its customers in packaging and industrial fibers.
It provides IVL with competitive advantages, obtaining the intellectual property rights of Polyshield PET and Oxyclear Barrier PET, INVISTA’s barrier technology, in all markets globally.
Polyshield PET and Oxyclear Barrier PET brands are known for their oxygen barrier packaging, mainly used by the food and beverage industry, to extend the shelf life of juice, wine, beer, diary and ketchup.
N.American PET market
IVL currently has a market share in the North America oxygen barrier PET market.
The company made its debut in this segment in 2011 through the acquisition of Auriga Polymers in South Carolina, US, acquiring the rights to the technology for creating the Crystal Clear Oxygen Barrier Resin in certain markets in the Americas.