M&G Group, a producer of PET for packaging applications, has purchased land in Corpus Christi, TX where it will build two plants that will manufacture one million tons of PET per year and 1.2 million tons of PTA per year.
The company, headquartered in Tortona, Italy, is one of the largest producers of PET resin for packaging applications in the Americas, with a production capacity in 2012 of approximately 1.6 million tons per year. M&G resins are used in the production of disposable and returnable rigid packaging for soft drinks, mineral water, beer, juice, tea, jelly, sauce, cooking oil, cosmetics, fertilizer and disinfectant, among other applications.
A company spokesperson told PlasticsToday economics is the driving factor behind the investment.
"The implementation of the newest large-scale technologies both in PET and PTA coupled with the synergies of the location will make this the largest and most efficient integrated PET plant in the world," the spokesperson said. "However, we also think that, considering the largely old and undersized North American PET/PTA installed base, and the continuing penetration of PET packaging in new applications, our investment will be needed to meet the future North American demand growth."...