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M&G àcquires IntegRex® PTA Technology License for use in Corpus Christi M&G PTA-PET construction project| Subj: Press-releses M&G Group, announces today it has signed a Licensee Agreement with Alpek, S.A.B. de C.V. (Alpek) for IntegRex® PTA technology. The technology will be used in the construction of M&G's previously announced 1,200,000 MT per annum PTA plant at Corpus Christi, Texas. M&G also announces today, Alpek has purchased for a price of $350,000,000, a multiyear sourcing agreement covering rights to 400,000 MT of PET (made with 336,000 MT of integrated PTA) per year. M&G will fully own and independently construct and operate both the PET and PTA plants, will use the vast majority of the plants' output - 600,000 MT of PET and 864,000 of PTA - to grow with its PET clients in North America and to captively source part of its other PTA requirements in North America. Both the PTA plant and M&G's proprietary 1,000,000 MT per annum PET plant are expected to begin production in 2016. Marco Ghisolfi, CEO of M&G stated, "Thanks to the unique and experienced world class engineering of Chemtex and Sinopec we will be the first to scale up IntegRex® PTA technology to this level. It is through the combination of the up-scaled IntegRex® PTA technology and the innovative M&G Easy-up® PET Technology that we will be introducing at Corpus Christi the most efficient, state of art, PTA-PET plants in the Americas." Other terms and conditions of the agreements were not disclosed. Source: M&G Group Previous news |
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