US: DAK Americas completes Wellman PET resin buy
DAK Americas, a subsidiary of the Mexican conglomerate ALFA, has has completed its $185m acquisition of Wellman Inc's PET resins manufacturing business - and says the deal will increase its total annual capacity to more than 4.3bn lbs (1,945 Ktons) a year.
The acquisition includes the PET resin production facilities in Mississippi, which has a production capacity of 950m lbs a year of PET resin and a workforce of 165 people.
These facilities will be integrated into DAK Americas Resins Business Unit which also has US operations in Wilmington and Fayetteville in North Carolina, and Charleston in South Carolina.
This deal follows DAK's purchase of Eastman's US Integrated PET Business in Columbia SC, which was completed in February 2011 and Eastman's International operations in Cosoleacaque, Mexico and Zarate, Argentina that were completed in the autumn of 2007.
"This latest addition reinforces DAK's position as an important player in the global PET marketplace," said Hector Camberos, president and CEO, DAK Americas. "This manufacturing facility will allow DAK to broaden its PET resin product offerings."
Polyethylene Terephthalate (PET) resin is widely used for the production of carbonated soft drink and water bottles, as well as other packaging applications. DAK is also one of the main producers of polyester staple fibre in the Americas.
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