# Far East New Century wins bid for M&G PET plant and R&D center

Taiwan's Far East New Century Corp (FENC) successfully bid $33.5 million for M&G's 800 million lb/year PET resin plant in Apple Grove, West Virginia, and an R&D center in Ohio.

- Type: Acquisition
- Announced: 2018-02-07
- Where: Apple Grove, West Virginia, United States
- Value: $33.5M
- Status: completed
- Capacity: 800 million lb per year
- Products: PET resin
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Far East New Century Corp](https://endata.com/companies/29931.md) (acquirer)
- [M&G](https://endata.com/companies/29932.md) (target)

## Sources

- [polyindex.net](https://www.polyindex.net/taiwans-fenc-winning-bidder-for-mg-assets-in-ohio-w-va-plastics-news-via-plastics-news/), 2018-02-07: "FENC, which is based in Taipei, Taiwan, has successfully bid $33.5 million for the 800 million pound–per-year capacity resin plant in Apple Grove, W.Va."

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