Thai chemicals and plastics group Indorama Ventures Limited (IVL) has withdrawn from the Czech PET recycling market, disposing of its indirect 85 per cent stake in UCY Polymers CZ s.r.o. The shares were transferred to UCY Global Invest GmbH, a company owned by Maximilian Josef Söllner, the former owner of UCY who had retained the remaining 15 per cent of the company’s share capital. According to IVL, no consideration was received in connection with the transaction.
IVL acquired the majority stake in the company based in Plzeň in western Czechia in 2022. At the time, UCY’s production capacity was put at 40,000 tonnes of PET flakes per year. The company previously operated under the name STF Plastic Recycling CZ and was part of STF Group headquartered in Aicha vorm Wald in Germany, which is owned by Mr Söllner....
