# Corpus Christi Polymers joint venture to acquire M&G plant in Texas

A joint venture investment group entered an agreement to acquire the M&G plastics production plant in Corpus Christi, Texas for $1.125 billion. The partially built facility has a planned capacity of 1.1 million metric tons per year.

- 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
- Products: prime plastics
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Indorama Ventures](https://endata.com/companies/3457.md) (investor)
- [Indorama Ventures](https://endata.com/companies/3457.md) (partner)
- [Alpek](https://endata.com/companies/4456.md) (investor)
- [Alpek](https://endata.com/companies/4456.md) (partner)
- [Corpus Christi Polymers](https://endata.com/companies/4675.md) (acquirer)
- [M&G USA Corp](https://endata.com/companies/4676.md) (target)
- [M&G](https://endata.com/companies/29932.md) (target)
- [Far Eastern Investment](https://endata.com/companies/30855.md) (investor)
- [Far Eastern Investment](https://endata.com/companies/30855.md) (partner)

## Sources

- [resource-recycling.com](https://resource-recycling.com/plastics/2018/03/28/major-prime-capacity-on-the-way/), 2018-03-28: "A joint venture investment group issued a March 21 news release stating they have entered an agreement to acquire the M&G plant in Corpus Christi, Texas."
- [polyestertime.com](https://www.polyestertime.com/judge-bankrupt-mg-plant/), 2018-04-03: "The go-ahead came March 28 from federal bankruptcy Judge Brendan L. Shannon in Delaware, who approved the sell of the plant to Corpus Christi Polymers."
- [dmi-consult.com](http://www.dmi-consult.com/en/content/far-eastern-entered-us-polyester-joint-venture-acquire-mgs-project), 2018-04-06: "Corpus Christi Polymers LLC ... has entered into an asset purchase agreement with M&G USA Corp. ... whereby CC Polymers will acquire the integrated PTA-PET plant currently under construction in Corpus Christi, Texas."
- [plasticker.de](https://plasticker.de/Plastics_News_32445_Corpus_Christi_Polymers_Acquisition_of_the_PTA_PET_complex_of_M+G_in_Texas), 2018-04-10: "The JV is owned by the Mexican petrochemical group Alpek, the Thai plastics group Indorama Ventures (IVL) and Far Eastern Investment Holding, part of the Taiwan-based Far Eastern New Century Corporation (FENC)."

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