Coca-Cola Beverages Philippines and Indorama Ventures to form PETValue.

Coca-Cola Beverages Philippines, a bottling arm of Coca-Cola, and Indorama Ventures, a producer in the intermediate petrochemical industry and a global manufacturer of wool yarns, agreed to form PETValue, a bottle-to-bottle recycling facility in the Philippines. Financial terms were not disclosed. “We are very proud of our partnership with Indorama Ventures; they’ve been helping us with innovative initiatives on sustainable packaging—from light-weighting efforts that allow us to lessen the amount of plastic we use in our packaging, to developing the country’s the first-ever beverage bottle made from 100% recycled plastic. Through PETValue, Indorama Ventures and Coca-Cola are introducing to the Philippines green technologies that will help strengthen Filipino’s commitment to sustainability—a major step in making our World Without Waste vision a reality in the Philippines," Gareth McGeown, CCBPI President and CEO.