American petrochemical company Alpek, has signed an agreement with Lotte Chemical Corporation to acquire a 100% stake in Lotte Chemical UK Limited, which operates in polyethylene terephthalate (PET) in Wilton, United Kingdom.
Details provided below:
- Alpek is a leading petrochemical company produces PTA and PET in North
- America, the largest expandable polystyrene manufacturer in the Americas.
- “This acquisition is well aligned with Alpeks growth strategy, creating substantial value by integrating the asset into our global polyester footprint, marking our first acquisition outside of the Americas, and growing our current worldwide PET capacity to 2.8 million tons,” said José de Jesús Valdez, Alpeks CEO.