Alpek de CV : joint-venture, CC Polymers, obtained all regulatory clearances to acquire the Corpus Christi Project
December 21, 2018 at 06:30 pm EST
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Alpek joint-venture, CC Polymers, obtained all regulatory clearances to acquire the Corpus Christi Project
San Pedro Garza Garcia, Nuevo Leon, Mexico. December 21, 2018 - Alpek, S.A.B. de C.V. ("Alpek") announced today that Corpus Christi Polymers LLC ("CC Polymers"), a joint venture among certain subsidiaries of Alpek, Indorama Ventures Holding ("Indorama"), and Far Eastern Investment (Holding) Limited ("Far Eastern"), received regulatory clearance from the United States Federal Trade Commission ("FTC"), in connection with its proposed acquisition of the Corpus Christi Project from M&G USA Corp. and its affiliated debtors ("M&G").
The Corpus Christi Project assets include the integrated PTA-PET plant under construction in Corpus Christi, Texas, certain M&G intellectual property, and a desalination/boiler plant providing water and steam to the site.
As part of the FTC clearance, the FTC issued a decision and order providing for certain obligations regarding the governance and operation of CC Polymers, among other requirements. CC Polymers has obtained all regulatory clearances required to close the acquisition of the Corpus Christi Project, which is expected to occur shortly.
About Alpek:
Alpek is a leading petrochemical company 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 largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in Mexico. Alpek also operates one of the largest polypropylene facilities in North America. In 2017, Alpek reported revenues of U.S. $5.2 billion and EBITDA of U.S. $384 million. The Company operates 26 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile, and employs more than 5,900 people. Alpek is a publicly traded company listed on the Mexican Stock Exchange.
For further information: Hernán F. Lozano Investor Relations Officer Alpek, S.A.B. de C.V.
Alpek SAB de CV published this content on 21 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 December 2018 23:29:03 UTC
Alpek SAB de CV is a Mexico-based company engaged in the chemicals sector. The Company's activities are divided into two business segments: Polyester and Plastics & Chemicals. The Polyester division focuses on the manufacture and distribution of purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester fiber. The Plastics & Chemicals division is responsible for the production of polypropylene (PP), expandable polystyrene (EPS), caprolactam (CPL), ammonium sulfate, as well as specialty and industrial chemicals, such as surfactants, ethoxilates, glycoethers and desemulsionates. The Company's products are used in a range of industries, including consumer goods, food and beverages, automotive, construction, agriculture, oil and gas, as well as pharmaceuticals. It operates a number of production plants in the Americas. The Company is controlled by Alfa SAB de CV.
ALPEK, S.A.B. DE C.V. 
