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.
Related Content
-
PP Prices May Plunge, Others Are Mostly Flat
PP prices appear on the verge a major downward trajectory, with some potential of a modest downward path for others.
-
Prices of Volume Resins Generally Flat or Lower
Exceptions in early March were PP and PS, which moved up solely due to feedstock constraints, along with slight upward movement in PVC and PET.
-
PET Cap and Closure Manufacturing System Launches
NPE2024: Origin Materials and partner Packsys Global say the high-throughput system opens the door to monomaterial bottles, promoting recycling and easing end of life for the package.
