With an eye on fast-growing pharmaceutical and other packaging markets, two Indian plastics powerhouses are building major PET film plants in the United States this year. The moves are putting significant pressure on long-struggling domestic producers. DuPont, the major producer through a joint venture with Teijin, wants to sell its PET film assets, according to several financial reports.
Uflex Ltd., India's largest flexible packaging company, is building a $180 million plant in Kentucky with an initial target capacity of 66 million pounds a year. Double that capacity is planned at the site. Polyplex is building a $187 million polyester film plant in Alabama. Initial capacity will be 66 million pounds per year, with additional capacity planned for 2015.....