Brazil’s PET resins producer – M&G Polimeros Brazil will be acquired by Thailand-based Indorama Ventures. The deal that was finalised in March this year, is expected to be completed in Q2, once all approvals are secured.
M&G Polimeros Brazil is the largest PET facility in Brazil with a capacity of 550,000 tonnes of PET resins per year. By acquiring this plant, Indorama can increase its footprint in the South American market – that the company says is “an important emerging market with domestic demand for PET increasing at about 5%”.
The facility in Brazil will also benefit from Indorama being a key PTA producer – which is a key feedstock in PET resin production.
Last year, Indorama ventures announced to acquire DuPont Teijin Films (DTF), that produces biaxially-oriented Polyethylene Terephthalate (BOPET) and Polyethylene Naphthalate (PEN) films used in specialty, packaging, industrial, automotive, advanced magnetic media, photo systems, electrical and electronics markets.
Know more about South/Central America & Caribbean PET markets at 6th SCAPET on 12-13 June, 2018 in Cartagena, Colombia.