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Markets :: Plastics :: PET

Alpek licenses PTA to M&G project, buys PET offtake rights for $350 million

3:40 PM MDT | April 16, 2013 | Clay Boswell

M&G Group (Tortona, Italy) has licensed Alpek’s IntegRex technology for its planned 1.2-million m.t./year purified terephthalic acid (PTA) plant in Corpus Christi, TX, the company announced on Tuesday. Alpek (San Pedro Garza García, Mexico) has, in turn, acquired the right to purchase 400,000 m.t./year of polyethylene terephthalate (PET) produced at the facility under a long-term supply agreement for $350 million. M&G announced plans to build the PTA plant and an associated 1 million m.t./year polyethylene terephthalate (PET) plant in May...

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