ALPEK B de C : Corpus Christi Polymers Resumes Construction
July 18, 2022 at 11:04 am EDT
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Satisfying customers' increasing demand
Monterrey, N.L., Mexico. July 18, 2022 - Alpek, S.A.B. de C.V. ("Alpek" or "the Company") announced today that the partners of Corpus Christi Polymers LLC ("CCP") will resume construction of the integrated PTA-PET plant in Corpus Christi, Texas. CCP will function as an independent tolling company where each of the three partners: DAK Americas LLC, an Alpek Polyester business, and a subsidiary of Alpek, Indorama Ventures Corpus Christi Holdings LLC, a subsidiary of Indorama Ventures, and APG Polytech USA Holdings, Inc, a subsidiary of Far Eastern New Century, will procure its own raw materials and each will receive one third of the PTA and PET produced at the facility to sell and distribute independently.
CCP will restart construction of the facility in August 2022 and expects completion by early 2025. It will have an overall annual capacity of 1.1 million tons and 1.3 million tons of PET and PTA respectively, which means Alpek would have approximately 367,000 tons of PET and 433,000 tons of PTA capacity. CCP expects to have the most competitive state-of-the-art site in the Americas employing Alpek's proprietary IntegRex® technology for PTA among others. The strategic location on the U.S. Gulf Coast will facilitate competitive raw material procurement and distribution cost, as well as scalability across Alpek's sites in the Americas. Moreover, having both PTA and PET vertically integrated will ensure optimized production.
"We are pleased to resume construction of Corpus Christi Polymers," stated José de Jesús Valdez, Alpek's CEO. "We are confident that once CCP's construction is completed, its strategic location and state-of-the-art technology will allow us to support our customers and meet their increasing needs."
Corpus Christi Polymers Resumes Construction
Satisfying customers' increasing demand
Monterrey, N.L., Mexico. July 18, 2022 - Alpek, S.A.B. de C.V. ("Alpek" or "the Company") announced today that the partners of Corpus Christi Polymers LLC ("CCP") will resume construction of the integrated PTA-PET plant in Corpus Christi, Texas. CCP will function as an independent tolling company where each of the three partners: DAK Americas LLC, an Alpek Polyester business, and a subsidiary of Alpek, Indorama Ventures Corpus Christi Holdings LLC, a subsidiary of Indorama Ventures, and APG Polytech USA Holdings, Inc, a subsidiary of Far Eastern New Century, will procure its own raw materials and each will receive one third of the PTA and PET produced at the facility to sell and distribute independently.
CCP will restart construction of the facility in August 2022 and expects completion by early 2025. It will have an overall annual capacity of 1.1 million tons and 1.3 million tons of PET and PTA respectively, which means Alpek would have approximately 367,000 tons of PET and 433,000 tons of PTA capacity. CCP expects to have the most competitive state-of-the-art site in the Americas employing Alpek's proprietary IntegRex® technology for PTA among others. The strategic location on the U.S. Gulf Coast will facilitate competitive raw material procurement and distribution cost, as well as scalability across Alpek's sites in the Americas. Moreover, having both PTA and PET vertically integrated will ensure optimized production.
"We are pleased to resume construction of Corpus Christi Polymers," stated José de Jesús Valdez, Alpek's CEO. "We are confident that once CCP's construction is completed, its strategic location and state-of-the-art technology will allow us to support our customers and meet their increasing needs."
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Alpek SAB de CV published this content on 18 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 July 2022 15:03:04 UTC.
Alpek SAB de CV is a Mexico-based company engaged in the chemicals sector. The Company's activities are divided into two business segments: Polyester and Plastics & Chemicals. The Polyester division focuses on the manufacture and distribution of purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester fiber. The Plastics & Chemicals division is responsible for the production of polypropylene (PP), expandable polystyrene (EPS), caprolactam (CPL), ammonium sulfate, as well as specialty and industrial chemicals, such as surfactants, ethoxilates, glycoethers and desemulsionates. The Company's products are used in a range of industries, including consumer goods, food and beverages, automotive, construction, agriculture, oil and gas, as well as pharmaceuticals. It operates a number of production plants in the Americas. The Company is controlled by Alfa SAB de CV.