#Recycling / Circular Economy

2020-10-08

Indorama Ventures joins the World Economic Forum’s global plastic action partnership

Indorama Ventures Public Company Limited (IVL) today announced that it has joined the World Economic Forum’s Global Plastic Action Partnership (GPAP). The global multi-stakeholder partnership aims to reduce plastic leakage into the environment and is driving the transition to a circular economy for plastics. This partnership is aligned with Indorama Ventures 2019 commitment to increase recycled content volumes of PET by at least 750,000 tonnes, pledging US$ 1.5 billion towards achieving this target by 2025.

Mr. Yashovardhan LOHIA, Chief Sustainability Officer, Indorama Ventures said, “We are proud to join the World Economic Forum’s Global Plastic Action Partnership. By joining GPAP we will advance our shared goal of ending PET plastic waste. Harnessing the convening power of the World Economic Forum, GPAP is bringing together governments, businesses, and civil society to forge circular solutions – at both the global and national levels. Our recycling facilities across the world can close the loop and deliver a circular economy for PET plastic.”

“We produce a unique type of recyclable plastic called PET. PET is most commonly used plastic for beverage bottles and is the most collected and recycled plastic packaging in the world. It is important for us to offer added value to our customers with sustainable recycled products.

“In March this year, we recycled our 50 billionth PET bottle since we started in 2011. We want to go further because we know PET is fully recyclable, by 2025 we aim to recycle 50 billion bottles a year. To achieve this, we have committed up to USD 1.5 billion to expand the recycling infrastructure the world needs. The GPAP community is championing this shift to a circular economy and helping the world to understand the benefits of a closed-loop approach.”

“Joining GPAP is a clear statement of Indorama Ventures’ commitment to sustainability and advancing the circular economy,” said Mr. Kristin HUGHES, GPAP Director and Member of the Executive Committee at the World Economic Forum. “Their global presence, fully integrated model and decades of recycling know-how means they are uniquely placed to close the loop for PET plastic.

“We look forward to working with Indorama Ventures and learning from their experience with collection systems around the world. Together we can drive high-potential solutions to improve collection, ensuring plastic never ends up as waste.”

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

Rieter reports stable order backlog and strategic progress – outlook for 2025 adjusted

In its Investor Update 2025, Rieter announced an order intake of CHF 203.9 million in the third quarter and CHF 559.3 million after nine months, reflecting a continued cautious investment climate in the textile machinery sector. Sales totaled CHF 121.5 million in the third quarter and CHF 457.7 million for the first nine months of the year, while the order backlog stood at around CHF 590 million as of September 30, 2025.

The Address of innovation and investment in textile technologies: ITM 2026

Sales for ITM 2026, one of the world’s most comprehensive and prestigious exhibitions in textile technologies, are continuing at full steam. The record number of exhibitors and visitors achieved at ITM 2024 once again proved the industry’s confidence and the commercial success of the exhibition; meanwhile, the strong interest shown in ITM 2026, to be held on 9-13 June 2026, has far exceeded expectations.

STOLL in focus:

At the beginning of this year, KARL MAYER announced that it would be shifting its focus back to its core areas of warp knitting, warp preparation and technical textiles. As part of this strategic realignment, the flat knitting machine business under the STOLL brand will be discontinued. The Reutlingen plant will close down on 31 October 2025. Production in China will end in December 2025. This was an extremely difficult decision for KARL MAYER.