# 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.

- Type: Acquisition
- Announced: 2018-03-22
- Where: Texas, United States
- Value: $375.0M
- Status: announced
- Capacity: 1.3 million tonnes of PTA and 1.1 million tonnes of PET per year
- Products: purified terephthalic acid, polyethylene terephthalate
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Far Eastern New Century](https://endata.com/companies/4457.md)
- [Indorama Ventures](https://endata.com/companies/3457.md) (partner)
- [Alpek](https://endata.com/companies/4456.md) (partner)
- [Far Eastern New Century](https://endata.com/companies/4457.md) (acquirer)
- [M&G USA Corp](https://endata.com/companies/4676.md) (partner)
- [M&G USA Corp](https://endata.com/companies/4676.md) (target)

## Sources

- [taipeitimes.com](https://www.taipeitimes.com/News/biz/archives/2018/03/23/2003689829), 2018-03-22: "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."
- [polyestertime.com](https://www.polyestertime.com/taiwans-far-eastern-acquire-texas-polyester-plant-taiwan-far-eastern-texas-polyester-plant/), 2018-03-30: "The joint venture, Corpus Christi Polymers LLC, would be FENC’s largest investment in the US and would help expand its Latin American customer base."

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