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DAK Americas acquires stake in Selenis Canada
04
Aug '16
DAK Americas, the main producer of polyester staple fibres in the Americas, has completed transaction with IMG Group of Portugal to acquire a controlling interest in Selenis Canada Inc.

Selenis Canada operates a polyethylene terephthalate (PET) plant in Montreal, Quebec with a capacity to produce 144 kilo tons/yr of PET resin.

The Montreal PET facility offers the ability to expand operations into Canada, to produce differentiated products and enhance raw material synergies.

Terms of the transaction were not disclosed.

However, the transaction has been approved by the Canadian Competition Bureau. (RKS)

Fibre2Fashion News Desk – India

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