ALFA Announces Acquisition of Wellman's PET Resin Production Facilities

SpecialChem - Jun 28, 2011

MONTERREY, Mexico -- ALFA, S.A.B. de C.V. (ALFA), the Mexican industrial company, has announced that its subsidiary DAK Americas, LLC has agreed to acquire the U.S. PET business of Wellman, Inc. Total value of this acquisition is approximately U.S. $ 185 million, including a cash payment and assumption of certain liabilities. The acquisition includes the PET Resin production facilities in Bay St. Louis, Mississippi, U.S.A. The site has a capacity to produce approximately 430,000 tons/year of PET Resin. There are 165 people employed at the site. Commenting on the transaction, Armando Garza Sada, Chairman of the Board of ALFA, said: "This strategic acquisition reinforces our presence in the PET industry, where we supply...

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