Alpek And M&G Sign Polyester Agreement

Alpek, the polyester arm of Mexico’s Alfa group and owner of U.S. polyethylene terephthalate maker DAK Americas, has signed a technology and supply agreement with competitor Mossi & Ghisolfi. Under the agreement, M&G will license Alpek’s IntegRex process for making the PET raw material purified terephthalic acid and use it in a 1.2 million-metric-ton-per-year PTA plant M&G is planning for Corpus Christi, Texas. The PTA unit will feed a 1 million-metric-ton PET plant M&G will build at the site with its own technology. Additionally, Alpek is paying M&G $350 million for multiyear rights to 400,000 metric tons per year of PET from the M&G complex, which is set to open in 2016. Alpek acquired the IntegRex technology as part of its 2011 purchase of Eastman Chemical’s PET business.