Indorama Ventures partners with Suntory to bring commercial circular PET to ASEAN for the first time

M&A · Partnership
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Summary · why it matters

Indorama Ventures has announced a strategic partnership with Suntory Holdings, Suntory PepsiCo Beverage Thailand, and Iwatani Corporation Thailand to bring commercial circular PET packaging to Thailand through its Indovida business. The collaboration will introduce Flake-to-Preform direct recycling technology to Thailand through Indovida Thailand, a joint venture between Indorama Ventures and Iwatani Corporation. This marks the first commercial use of the technology in Southeast Asia, with expected production of recycled PET preforms equivalent to about 400 million PET bottles per year. Deliveries to Suntory PepsiCo Beverage Thailand are expected to begin from 2028 onwards. The partnership strengthens Indorama Ventures' downstream packaging business platform and reinforces the company's IVL 2.0 growth strategy.

Impact on stocks 2

Critical Materials & Supply Chain▲ · 2 stocks
Indorama Ventures PCL
IVL
▲ PositiveDemandrelevance

Partnership brings commercial circular PET to Thailand, securing future deliveries to Suntory PepsiCo, boosting downstream packaging business.

IWATANI Corporation
8088
▲ PositiveDemandrelevance

As JV partner in Indovida Thailand, Iwatani benefits from the new recycling technology deployment and production volumes.

Theme Impact 1

Off-coverage companies 2

Suntory PepsiCo Beverage (Thailand)Private▲ Positive
Demandrelevance

Suntory PepsiCo will receive recycled PET preforms from 2028, securing sustainable packaging supply.

Indovida (Thailand) Co., Ltd.Private▲ Positive
Demandrelevance

Indovida Thailand is the JV executing the flake-to-preform technology, directly involved in production and supply.

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