DAK Americas to Acquire PET Recycling Facility
DAK’s acquisition of Perpetual Recycling Solutions facility will complement its current food-grade rPET capacity in Argentina.
DAK Americas LLC, an Alpek Polyester business, has signed an Asset Purchase Agreement with Perpetual Recycling Solutions, LLC to acquire the Perpetual PET recycling facility in Richmond, Indiana. The terms of the agreement have not been disclosed and the acquisition is expected to be completed in the first quarter of 2019.
The Perpetual PET recycling operations have an approximate annual capacity of 100 million lbs/yr of high-quality recycled PET (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, NC, USA.
“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.
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