# FENC buys M&G Polymers PET plant in Apple Grove for $34 million

Far Eastern New Century Corporation (FENC) won the bid for the M&G Polymers USA LLC PET production plant in Apple Grove, West Virginia, for about $34 million. The acquisition includes a research center in Ohio and gives FENC its first resin production plant in the United States.

- Type: Acquisition
- Announced: 2018-02-06
- Where: Apple Grove, West Virginia, United States
- Value: $34.0M
- Status: announced
- Capacity: 360,000 tonnes per year
- Products: PET resin
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Far Eastern New Century](https://endata.com/companies/4457.md) (acquirer)
- [M&G Polymers USA LLC](https://endata.com/companies/29446.md) (target)

## Sources

- [industrysourcing.com](https://www.industrysourcing.com/article/fenc-buys-mg-polymers-plant), 2018-02-06: "FENC is buying the M&G Polymers PET production plant for $34 million, an investment that will give FENC access to one of its major international markets."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.