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DAK proceeds with buyout of Wellman's US PET Business
Aug '11
DAK Americas LLC (DAK) announced that it is proceeding with the acquisition of the PET Resins business of Wellman, Inc. (“Wellman”) and is expecting to close the transaction by the end of August 2011. The waiting period under the Hart-Scott-Rodino Antitrust Improvement Act has expired without request for additional information from the U.S. Federal Trade Commission.

The acquisition includes the PET Resin production facilities in Bay St. Louis, Mississippi, U.S.A. The site has a production capacity of approximately 950 million lbs/yr (430 Ktons/yr) of PET Resin and a work force of approximately 165 people. These facilities will be integrated into DAK Americas Resins Business Unit which also has U.S. operations in Wilmington, NC; Fayetteville, NC; Charleston, SC and Columbia, SC.

Polyethylene Terephthalate (PET) Resin is widely used for the production of carbonated soft drink and water bottles, as well as, other food and consumer product packaging applications.

DAK Americas, headquartered in Charlotte, NC, is wholly owned by Alfa S.A.B. de C.V. of Monterrey Mexico. DAK Americas is comprised of four business units: Polyethylene Terephthalate Resins (PET), Polyesters Staple Fibers (PSF), Monomers/ ingredients (TPA/PTA), and Specialty Polymers. DAK is one of the largest integrated producers of PET Resin in the world and the main producer of polyester staple fiber in the Americas. DAK is focused on the future with numerous Sustainability initiatives across its businesses.

ALFA is a Mexican company comprising four business groups: Alpek (petrochemicals), Nemak (high tech aluminum auto components), Sigma (refrigerated food) and Alestra (telecommunications). ALFA is the world's leading manufacturer of high-tech aluminum engine heads and blocks. It is one of the world's largest producers of PTA, a petrochemical product, and has a leading market share in other petrochemicals in Mexico.

DAK Americas LLC

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