San Pedro Garza Garcia, Nuevo Leon, Mexico. January 9, 2019
Alpek, S.A.B. de C.V. (“Alpek”) announced today that one of its subsidiaries has signed an agreement with Perpetual Recycling Solutions, LLC (“Perpetual”) to acquire a PET recycling plant in Richmond, Indiana, USA.
The Perpetual PET recycling plant has an installed capacity to produce approximately 45,000 tons per year of high-quality recycled PET flake. This acquisition will complement Alpek’s food-grade PET recycling operations in Argentina and its fiber-grade PET recycling joint venture facility in Fayetteville, North Carolina, USA.
Subject to customary conditions precedent, the closing of this transaction is expected during the first quarter 2019. Terms of the agreement will be disclosed at a later stage.