Lotte Chemical Alpek Polyester - Arhive

Lotte Chemical Alpek Polyester

Lotte Chemical UK after the transaction renamed Alpek Polyester UK Ltd

Lotte Chemical Alpek Polyester

MOSCOW – Polyethylene terephthalate (PET) production facilities, formerly known as Lotte Chemical UK in the UK, are currently owned by Alpek’s subsidiary and operate under the name Alpek Polyester UK Ltd., the company said.

The deal, announced in October, includes a 350,000-ton-per-year PET plant in Wilton. This is Alpek’s first acquisition outside of America.

Soloshenie entered into force on January 1, 2020.

The new business will operate within the Alpek Polyester enterprises as the legal entity Alpek Polyester UK Ltd.

The acquisition is consistent with Alpek’s growth strategy, creating significant value by integrating assets and expanding Alpek Polyester’s global presence to more than 2.8 million tons of PET worldwide in 6 countries and 15 with more than 4,800 employees.

According to the ICIS-MRC Price Survey , at the end of December last year, activity in foreign PET markets was very low amid holidays in Europe. Prices in the Chinese market remained at the level of the second half of the third week of December. Activity in the Russian spot PET market at the end of 2019 increased sharply. Free volumes for spot buyers in a significant amount remained only at the Kaliningrad plant Ecopet.

Alpek is the largest petrochemical company in Mexico and the second largest in Latin America. Its activities are divided into two main segments: “polyesters” (terephthalic acid, polyethylene terephthalate and polyester fibers) and “plastics and chemicals” (polypropylene, foamed polystyrenes, caprolactam, polyurethanes and other special and industrial chemicals). Alpek is a leading global manufacturer of purified terephthalic acid and PET; It owns the continent’s largest expanded polystyrene company and one of the largest polypropylene plants in North America. Alpek currently has 19 factories in Mexico, the USA and Argentina. Alpek is part of the Mexican conglomerate Grupo Alfa. Alpek also owns DAK Americas.

Lotte Chemical UK, a subsidiary of KP Chemical, is part of the Lotte Group’s petrochemical Japanese-South Korean conglomerate and produces purified terephthalic acid (TPA) and PET for use in the packaging industry.

Author: Anna Larionova

Lotte Chemical Alpek Polyester

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