DAK Americas To Acquire PET Recycling Facility From Perpetual Recycling Solutions

CHARLOTTE, N.C. — January 9, 2019 — DAK Americas LLC (DAK), an Alpek Polyester business, announces that it has signed an Asset Purchase Agreement with Perpetual Recycling Solutions LLC (Perpetual) to acquire the Perpetual PET recycling facility in Richmond, Ind.

The Perpetual PET recycling operations have an approximate annual capacity of 100 million pounds per yearr (~45,000 tons per year) of high quality recycled polyethylene terephthalate (rPET) flake.

This facility will complement Alpek Polyester’s current food-grade PET recycling capacity in Pacheco, Argentina and its fiber-grade recycling joint venture facility in Fayetteville, N.C.

“The acquisition of Perpetual and additional rPET capacity demonstrates Alpek Polyester’s ongoing commitment to sustainable product offerings to meet growing customer and consumer demand for rPET content. The addition of this facility will allow us to expand our sustainability initiatives,” stated Jon McNaull, vice president – PET Resins.

The terms of the agreement have not been disclosed and the acquisition is expected to be completed in the first quarter of 2019.

Posted January 10, 2019

Source: DAK Americas LLC