M&As: Indorama sells Czech PET recycling plant; BASF mulling sale of biometric subsidiary trinamiX
Thailand-based polyester firm Indorama Ventures has sold its entire 85% stake in failing Czech PET recycling plant UCY Polymers CZ, to UCY Global Invest, an affiliate of the jv’s existing 15% minority partner Maximilian Josef Söllner.
The company disclosed to the Stock Exchange of Thailand that its Dutch arm, Indorama Netherlands B.V. had undertaken the sale, adding that the sale was due to a core business assumption on feedstock quality that has collapsed under shifting German regulations and supplier models.
Indorama bought UCY in February 2022 to upscale its European recycling footprint using bottles sourced via Germany’s deposit return system.
But with rule changes and new operating models adopted by two major German suppliers meant the plant was forced to run on Czech and nearby feedstock that its in‑house technology “was not designed” to process, resulting in sub‑standard output that failed to meet quality requirements.
The company said investments and other upgrade options had been re‑evaluated and deemed uneconomical, leading to the divestment as part of its “IVL 2.0” strategic footprint optimisation. No consideration was received for the deal, which completed recently.
Meanwhile, in other news German chemicals firm BASF says it is examining strategic options for its subsidiary trinamiX GmbH, which specialises in biometric imaging and mobile material analysis. These activities are not part of BASF’s core business, on which the company is focusing as part of the implementation of its new strategy.
In the reassessment of trinamiX, the focus is on restructuring, cost efficiency and value optimisation. The strategic measures may also include the sale of individual business areas.
In this context, there will be a change in management. The previous Managing Director Dr. Ingmar Bruder, who has accompanied the development of trinamiX from the initial idea to the present day, left the management board on January 26, 2026. He will be succeeded on February 1, 2026, by Dr. Lothar Laupichler, who most recently headed BASF’s global electronic materials business. Sören Bauermann, who has been part of the trinamiX management team since 2023, will remain on the management board.
trinamiX GmbH develops solutions based on biometric imaging and mobile NIR spectroscopy. It was founded in 2015 as a subsidiary of BASF SE and is headquartered in Ludwigshafen, Germany. It employs around 200 people worldwide and holds more than 800 patents and patent applications.
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