Alpek Polyester subsidiary DAK Americas has entered an agreement to purchase a Perpetual PET recycling plant in Richmond, Indiana, from US recycled plastic firm Perpetual Recycling Solutions for an undisclosed amount.
The recycling plant has an installed capacity to annually produce 45,000t of recycled polyethylene terephthalate (rPET) flake annually.
According to the company, the deal will expand the Alpek Polyester’s food-grade PET recycling capacity in Pacheco, Argentina, as well as fibre-grade recycling joint venture facility in Fayetteville, North Carolina.
DAK Americas PET resins vice-president Jon McNaull said: “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.”
The transaction is currently subject to various customary conditions and is expected to be completed in the first quarter of this year.
Perpetual Recycling creates clean PET flakes from plastic beverage bottles and food containers discarded by consumers.
The company expects to process up to 160 million pounds of RPET waste annually at its 100,000ft2 plant.
Alpek currently operates two business segments, including polyester, as well as plastics and chemicals. It produces PTA and PET in North America, and caprolactam in Mexico.
The company operates 26 plants in the US, Mexico, Canada, Brazil, Argentina, and Chile. It employs more than 5,900 people.