# Corpus Christi Polymers JV cleared to buy $1.1B PET plant

The Federal Trade Commission cleared Corpus Christi Polymers LLC, a joint venture of Alpek, Indorama Ventures and Far Eastern New Century, to acquire a $1.1 billion plastic material production plant in Corpus Christi, Texas, as part of a settlement resolving antitrust concerns.

- Type: Acquisition
- Announced: 2018-12-21
- Where: Corpus Christi, Texas, United States
- Value: $1.10B
- Status: announced
- Capacity: 1.1 million metric tons PET and 1.3 million metric tons PTA per year
- Products: polyethylene terephthalate (PET) resin
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Corpus Christi Polymers](https://endata.com/companies/4675.md)
- [Indorama Ventures](https://endata.com/companies/3457.md) (investor)
- [Alpek](https://endata.com/companies/4456.md) (investor)
- [Far Eastern New Century](https://endata.com/companies/4457.md) (investor)
- [Corpus Christi Polymers](https://endata.com/companies/4675.md) (acquirer)
- [M&G USA Corp](https://endata.com/companies/4676.md) (partner)
- [M&G USA Corp](https://endata.com/companies/4676.md) (target)
- [Far Eastern Investment](https://endata.com/companies/30855.md) (investor)

## Sources

- [news.bloomberglaw.com](https://news.bloomberglaw.com/mergers-and-acquisitions/plastic-polymer-jv-gets-ftc-nod-for-1-1b-facility-buy), 2018-12-21: "The Federal Trade Commission has cleared Corpus Christi Polymers (CCP) LLC’s proposed $1.1 billion acquisition of a plastic material production plant."
- [alpek.com](https://www.alpek.com/alpek-joint-venture-cc-polymers-has-completed-the-acquisition-of-the-corpus-christi-project/), 2018-12-28: "Corpus Christi Polymers LLC has successfully completed the previously announced acquisition of the Corpus Christi Project from M&G USA Corp. and its affiliated debtors for an aggregate amount of U.S. $1.199 billion."
- [bicmagazine.com](https://www.bicmagazine.com/industry/investment-banking/alpek-joint-venture-acquires-corpus-christi-project-for-1-19/), 2019-01-04: "Alpek, Indorama, and Far Eastern will provide resources to CC Polymers to complete the project in the most efficient and cost effective way."
- [hydrocarbonengineering.com](https://www.hydrocarbonengineering.com/petrochemicals/04012019/alpek-jv-acquires-corpus-christi-pta-pet-plant/), 2019-01-04: "Alpek, Indorama, and Far Eastern will provide resources to CC Polymers to complete the project in the most efficient and cost effective way."

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