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The Mexican petrochemical maker Alpek is buying Lotte Chemical’s 350,000-metric-ton-per-year polyethylene terephthalate plant in Wilton, England, for an undisclosed sum. Alpek says the deal for the South Korean chemical maker’s facility marks its first manufacturing move outside the Americas. Gordon Haire, a research director at the consulting firm Wood Mackenzie, says the acquisition gives Alpek a strong platform for expanding into Europe.
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