Mar 22, 2018ACQUISITIONTexas, United States Far Eastern New Century to acquire M&G polyester plant in Texas via joint venture
Far Eastern New Century Corp, through its subsidiary, will form a joint venture with Indorama Ventures and Alpek to acquire a polyester plant in Texas from M&G USA Corp for US$375 million. The plant, still under construction, will produce 1.3 million tonnes of PTA and 1.1 million tonnes of PET annually.
Capacity
1.3 million tonnes of PTA and 1.1 million tonnes of PET per year
Productspurified terephthalic acidpolyethylene terephthalate
“Through the plant, FENC could reach more customers in Latin America, the official said, adding that the joint venture named Corpus Christi Polymers LLC would be the company’s largest investment in the US.”taipeitimes.com
- 2 sources
- taipeitimes.comPolyester maker to acquire US plant - Taipei TimesMar 22, 2018
- polyestertime.comTaiwan's Far Eastern to acquire Texas polyester plant - Taiwanese polyester and textile maker Far Eastern New Century Corp (FENC) plans to spend $375 million to acquire a US-based polyester plant through a joint venture between its wholly-owned subsidiary Far Eastern Investment (Holding) Ltd , Thailand-based Indorama Ventures Holdings LP and Mexico-listed Alpek SAB de CV to broader customer base, according to the firm - Taiwan Far Eastern Texas polyester plant • PolyestertimePolyestertimeMar 30, 2018
Summarized from public sources; check the original articles before acting on it.
ENDATA