Alfa acquire Wellman’s PET business $ 185 million

Alfa to acquire Wellman’s PET business for $ 185 million

12:16 PM, 18th June 2011
Alfa to acquire Wellman’s PET business for $ 185 million
Armando Garza Sada, Chairman of the Board, Alfa.

MONTERREY, MEXICO: Alfa S A B de the Mexican industrial company’s subsidiary DAK Americas LLC has agreed to acquire the US PET business of Wellman Inc. Total value of this acquisition is approximately $ 185 million, including a cash payment and assumption of certain liabilities. The transaction subject to regulatory approvals is expected to close in the second half of this year.

The acquisition includes the PET Resin production facilities in Bay St Louis, Mississippi. The site has a capacity to produce approximately 430,000 ton/year of polyethylene terephthalate (PET) resin.

“This strategic acquisition reinforces our presence in the PET industry, where we supply some of the most important companies in consumer segments such as beverage, food and personal care. It allows us to demonstrate once again our commitment to the PET value chain,” said Armando Garza Sada, Chairman of the Board, Alfa.

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