HOUSTON — September 12, 2012 — M&G Group, leading producer of PET for packaging applications in
the Americas and the market’s technological leader, announces today that it has purchased the land
in Corpus Christi, Texas where it will build its one million tons per year PET plant (2.2 billion
pounds) and accompanying 1.2 million tons per year (2.6 billion pounds) PTA plant.
The property has been purchased by the M&G Group from the philanthropic organization, The
Robert Driscoll and Julia Driscoll and Robert Driscoll, Jr. Foundation. The land is
conveniently located on the northern side of the Viola Channel within the Port of Corpus Christi
providing good access to rail and navigable water.
“The final selection and the purchase of the land is an important step as it will allow us to
complete detailed engineering and permit filing,” commented Mauro Fenoglio, the Project Leader for
this important investment.
“I’m glad to have had the opportunity to personally reiterate to Governor Perry, during his
recent visit to Italy, our commitment to Corpus Christi, Texas for the world’s largest PET
integrated plant,” said Marco Ghisolfi, CEO of M&G’s Polymers Business Unit. He added,
“The synergies of the location, adding to the unmatched size and integration efficiency of the
plant, will further remove logistic costs, making our operation by far the world lowest cost.”
“I always appreciate the opportunity to meet with employers that are looking to Texas as the
best place to grow their business, and I’m pleased M&G Group is finalizing its plans to create
hundreds of jobs for Texans in Corpus Christi,” Texas Gov. Rick Perry said. “The strong business
climate we’ve fostered in Texas continues to attract employers from around the world to create jobs
and opportunity in the Lone Star State because of our low taxes, reasonable regulations, fair
courts and skilled workforce.”
About the Project
The new plants will generate approximately 250 new jobs. An additional 700 indirect
positions are anticipated and as many as 3,000 jobs likely will be created during construction.
The new PET single line plant will employ the same technology as M&G’s single reactor
Suape (Brazil) PET plant, including M&G’s revolutionary EasyUp™ SSP technology. Corpus
Christi, Texas, is located 200 miles southwest of Houston, Texas, and 145 miles east of Laredo,
Texas. It is strategically located on the Gulf of Mexico with a metropolitan population over
400,000. The Port of Corpus Christi is the sixth largest port in the United States, in terms
of tonnage, and will soon expand significantly as a major trade gateway for Mexico and Latin
America with development of the La Quinta Container Terminal. The Corpus Christi Port
Authority, to support the expected traffic growth, have also just announced a major rail expansion.
Posted on September 18, 2012
Source: M&G Group/PRNewswire