DAK Americas LLC, an Alpek polyester company, has signed an asset purchase agreement with Perpetual Recycling Solutions LLC for its polyethylene terephthalate (PET) recycling facility in Richmond, Ind.
The operation has an approximate capacity of 100 million pounds per year of high-quality, recycled PET (rPET) flake. Terms of the agreement were not disclosed. The Perpetual acquisition will fit in well with Alpek Polyester’s Argentina-based food-grade PET recycling facility as well as its Fayetteville, N.C.-based fiber-grade recycling joint venture, according to the company.
“The addition of this facility will allow us to expand our sustainability initiatives,” said Jon McNaull, vice president, PET Resins, DAK Americas.