PET Processors is a privately held company with experience in polymer processing. The company operates from a facility constructed in 1937, which was built to manufacture rayon cord for tires, hoses and belts by the Industrial Rayon Corporation. In the 1960s, the plant was expanded to include polyester batch vacuum solid-state polymerization and polyester tire yarn. Once the largest local employer, the plant was closed when acquired in 1981 by Louisiana Chemical, which began liquidating the remaining manufacturing equipment. In 1984, a polyethylene terephthalate-resin manufacturer approached Louisiana Chemical with a request to process excess polyethylene terephthalate. Other requests followed and in 1986, PET Processors was created as a stand-alone business unit. PET Processors is headquartered in Painesville, Ohio, in the heart of the polymer belt, which gives it access to a network of academic, manufacturing, testing and equipment experts.