M&G Group is increasing PET output at its Mexico facility

M&G Group is increasing PET output at its Mexico facility

Italian PET resin and packaging firm M&G Group is to expand its Mexican facility and plans to build a plant in Brazil. The Ghisolfi family-owned company will increase PET output at Altamira to 1,200 tonnes a day by early in the second quarter. The present output is 850 tonnes a day.

Chief executive Marco Ghisolfi expected double-digit annual growth in PET consumption in all markets, with the possible exception of the US. “Even though growth in the American market is slowing, its size means that an annual growth of 5% is sufficient to cause a large demand for extra resin.”

The firm has announced plans to build a PET plant in Brazil “as soon as a number of issues that penalise local investment are abolished”. Ghisolfi said the Brazilian government had initiated actions to eliminate the high rate of imports to the country, which would lead to more domestic production. He was confident that “sustainable changes in policy are being put into effect”.
In 2002 Brazil imported more than 40% of its PET requirements. By comparison the US imported 20%.