# Indorama Ventures, Far Eastern Investment and Alpek acquire M&G's PET/PTA plant in Texas

Indorama Ventures, Far Eastern Investment and Alpek set up a JV called CC Polymers to acquire M&G's integrated PET/PTA assets in Corpus Christi, Texas for US$1.125 billion. Each partner will invest around US$375 million for one-third offtake. The plant has annual capacity of 1.1 million MT of PET and 1.3 million MT of PTA.

- Type: Acquisition
- Announced: 2018-03-25
- Where: Corpus Christi, Texas, United States
- Value: $1.13B
- Status: completed
- Capacity: 1.1 million MT of PET and 1.3 million MT of PTA per year
- Products: PET (polyethylene terephthalate), PTA (purified terephthalic acid)
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Indorama Ventures](https://endata.com/companies/3457.md) (investor)
- [Alpek](https://endata.com/companies/4456.md) (investor)
- [M&G](https://endata.com/companies/29932.md) (target)
- [Far Eastern Investment](https://endata.com/companies/30855.md) (investor)
- [CC Polymers](https://endata.com/companies/30933.md) (acquirer)

## Sources

- [packagingsouthasia.com](https://packagingsouthasia.com/type-of-article/indorama-to-get-pet-pta-plant/), 2018-03-25: "Indorama Ventures has set up a new JV called CC Polymers along with Far Eastern Investment and Alpek to acquire M&G's integrated PET/PTA assets in the USA for US$ 1.125 billion."

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