Alpek, S.A.B. de C.V. (“Alpek”) declared that one of its subsidiaries has entered into an agreement with Perpetual Recycling Solutions, LLC (“Perpetual”) to take over PET recycling plant in Richmond, Indiana, USA. The agreement is subject to customary conditions. The terms and conditions of the agreement will be revealed at a later stage. The agreement is expected to be concluded during the first quarter of 2019.
High quality recycled PET flake up to approximately 45,000 tons per year can be produced at the Perpetual PET recycling plant. Alpek’s food-grade PET recycling operations are located in Argentina and its fiber-grade PET recycling joint venture facility is operating in Fayetteville, North Carolina, USA. Acquisition of PET recycling plant in Richmond, Indiana will be complementing the production of the existing two facilities.
Operating two business segments: “Polyester” (PTA, PET and polyester fibers), and “Plastics & Chemicals” (polypropylene, expandable polystyrene, caprolactam, and other specialty and industrial chemicals), Alpek is an integrated producer of PTA and PET in North America. The company is the largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in Mexico.
Alpek also has one of the largest polypropylene facilities in North America. The Company has 26 plants spread over in the United States, Mexico, Canada, Brazil, Argentina and Chile and has more than 5,900 people. Alpek, a publicly traded company, is listed on the Mexican Stock Exchange.
During the year 2017, Alpek’s revenues stood at U.S. $5.2 billion and EBITDA of U.S. $384 million. Some of the highlights of Alpek include the leading position in America, consumer-oriented product portfolio, high-return investment projects, low-cost producer with leading technology, an experienced management team, and strong financial performance.