# Alpek, Indorama, Far Eastern JV to acquire M&G's Corpus Christi PTA-PET plant

Corpus Christi Polymers LLC, a joint venture of Alpek, Indorama, and Far Eastern, has entered into an asset purchase agreement to acquire M&G's integrated PTA-PET plant under construction in Corpus Christi, Texas, for $1.125 billion.

- Type: Acquisition
- Announced: 2018-03-21
- Where: Corpus Christi, Texas, United States
- Value: $1.13B
- Status: announced
- Capacity: 1.1 million metric tons per year of PET and 1.3 million metric tons per year of PTA
- Products: PTA (purified terephthalic acid), PET (polyethylene terephthalate)
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Indorama Ventures](https://endata.com/companies/3457.md) (acquirer)
- [Indorama Ventures](https://endata.com/companies/3457.md) (investor)
- [Alpek](https://endata.com/companies/4456.md) (acquirer)
- [Alpek](https://endata.com/companies/4456.md) (investor)
- [M&G USA Corp](https://endata.com/companies/4676.md) (target)
- [Far Eastern Investment](https://endata.com/companies/30855.md) (acquirer)
- [Far Eastern Investment](https://endata.com/companies/30855.md) (investor)

## Sources

- [alpekpolyester.com](https://www.alpekpolyester.com/alpek-entered-into-a-joint-venture-to-acquire-mgs-corpus-christi-project/), 2018-03-21: "The Corpus Christi Project is an integrated PTA-PET plant currently under development that, when completed, will have nominal capacity of 1.1 million and 1.3 million metric tons per year of PET and PTA, respectively."
- [alpek.com](https://www.alpek.com/alpek-entered-into-a-joint-venture-to-acquire-mgs-corpus-christi-project/), 2018-03-21: "CC Polymers has entered into an asset purchase agreement with M&G USA Corp. to acquire the integrated PTA-PET plant currently under construction in Corpus Christi, Texas."
- [napcor.com](https://napcor.com/news/2112-2/), 2018-03-21: "CC Polymers has entered into an asset purchase agreement with M&G USA Corp. to acquire the integrated PTA-PET plant currently under construction in Corpus Christi, Texas."
- [just-style.com](https://www.just-style.com/news/indorama-subsidiary-to-acquire-largest-pta-plant-in-us/), 2018-03-26: "The purchase agreement provides M&G with a binding bid of US$1.13bn in cash and other capital contributions."

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