Alpek buys Lotte Chemical's UK PET plant
Mexican petrochemical producer Alpek has agreed to buy South Korean rival Lotte Chemical's PET bottle chip plant in the UK.
Alpek will buy 100pc of Lotte's UK affiliate, which currently operates two PET bottle chip units of 150,000 t/yr and 200,000 t/yr at the Wilton International complex in northeast England's Teesside. Alpek operates 2.5mn t/yr of PET capacity in the Americas.
Neither company disclosed details of this deal, which is expected to be completed by the end of this year.
Lotte took over the site in 2010 from Artenius, which is part of the Spanish chemicals group La Seda de Barcelona, expanding its PET bottle chip capacity by adding the 200,000 t/yr unit in 2012. It has two PET bottle chip plants in South Korea at Ulsan and Yosu with a total capacity of 520,000 t/yr.
source: Argus Media
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