Americas LLC, a large plastics company,
has announced plans to acquire Wellman, Inc.,
a PET resin producer, in a transaction valued at about $185 million.
Charlotte-based DAK Americas LLC, a manufacturer of polyethylene terephthalate
(PET) resin, polyester staple fiber, terephthalic acid and purified terephthalic
acid monomers, and specialty polymers; and a subsidiary of Mexico-based
conglomerate Alfa S.A.B. de C.V. â€" has agreed to acquire the PET resin business
of Wellman Inc., Bay St. Louis, Miss., for approximately $185 million including
cash and the assumption of certain liabilities. The acquisition includes
Wellman's PET resin manufacturing facilities in Bay St. Louis, which produce
some 950 million pounds of PET resin annually and employ some 165 workers.
DAK, a company based out of North Carolina that is
owned by S.A.B. de C.V., will acquire PET resin production facilities in
Bay St. Louis, Mississippi as part of the transaction. DAK expects the acquisition
will expand its asset base and increase efficiencies. The site has a production
capacity of 950 million pounds of PET resin a year and a work force of about
DAK Americas is one of the
largest integrated producers of PET resins in the world and the main producer
of polyester staple fibers in the Americas. DAK Americas is headquartered
in Charlotte, NC, and is wholly owned by Alfa S.A.B. de C.V.
Mexico. Headquartered in Charlotte, NC. DAK has five business units
and operates seven production facilities across the Americas.
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