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Business
TPG Invests In M&G Chemicals
by Melody M. Bomgardner
November 24, 2014
| A version of this story appeared in
Volume 92, Issue 47
M&G Chemicals, part of Italy’s Mossi & Ghisolfi, has received a $300 million investment from an arm of the private equity firm TPG, which will take a minority stake in the company. The funds will be used to expand M&G’s polyethylene terephthalate (PET) facilities. In Corpus Christi, Texas, the firm is planning what it calls the world’s largest plant to make PET and its raw material purified terephthalic acid. And in Fuyang City, China, M&G plans to develop a supply chain for PET with raw materials from renewable sources.
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