Monterrey, Mexico. April 16, 2013
Alpek, S.A.B. de C.V. (“Alpek”), announced today that it has signed an IntegRex® PTA license agreement and a PTA-PET sourcing agreement with the M&G Group (“M&G”). Under the agreements, M&G will license Alpek’s IntegRex® PTA technology for the construction of its new integrated PTA-PET plant in Corpus Christi, Texas (the M&G Facility). In addition, Alpek will pay U.S. $350 million to M&G during the Facility’s construction and will receive contractual rights to 400 thousand tons of PET (made with 336 thousand tons of PTA) per year from the M&G Facility. Alpek will supply the raw materials for its portion of PTA-PET under the agreement. M&G’s Corpus Christi site is currently expected to begin operations in 2016. Other terms and conditions of the agreement were not disclosed.
José de Jesús Valdez, Alpek’s CEO stated: “The agreements signed with M&G reaffirm Alpek’s capabilities as a technology licensor and represent an important step forward to enhance our cost competitiveness in North America. We are convinced that the benefits of IntegRex®, combined with the scale of the new integrated plant in Corpus Christi as well as the region’s attractive energy and logistics will comprise one of the most competitive cost structures for PTA and PET globally, which will allow us to better serve and grow with our customers.”