Integrated PTA-PET Assets At Corpus Christi Joint Venture Receives FTC Approval
December 24, 2018 at 12:46 am EST
Share
With reference to the disclosure made by Indorama Ventures Public Company Limited on March 21, 2018 regarding the entry into an equal Joint Venture with Alpek, S.A.B. de C.V., and Far Eastern Investment (Holding) Ltd, to acquire the integrated PTA- PET assets in Corpus Christi, Texas, USA from M&G USA Corp. and its affiliated debtors, IVL announced that the joint venture has received all regulatory clearance required from the United States Federal Trade Commission for the proposed acquisition on December 21, 2018. The Corpus Christi plant will have nominal capacity of 1.1 million and 1.3 million metric tons per year of PET and PTA, respectively.
The three JV parties will each receive one-third of the capacity of PTA and PET produced. Each of the partners will procure raw materials independently, while also independently selling and distributing their corresponding PTA and PET. The plant is the largest in North America with state of art technology and is a vertically integrated PTA-PET production facility.
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. 
