DAK Americas LLC, Charlotte, North Carolina, signed an asset purchase agreement with Perpetual Recycling Solutions LLC to acquire the Perpetual polyethylene terephthalate (PET) recycling facility in Richmond, Indiana. The Perpetual PET recycling operations have an annual capacity of about 100 million pounds per year (or about 45,000 tons per year) of high-quality recycled PET (rPET) flake.
DAK Americas serves as a subsidiary of Alpek S.A. de C.V., a business group of Alfa S.A.B, de C.V., one of Mexico’s largest global industrial companies. According to a DAK Americas news release, the Perpetual facility will complement Alpek Polyester’s current food-grade PET recycling capacity in Pacheco, Argentina, as well as its fiber-grade recycling joint venture facility in Fayetteville, North Carolina.
“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,” says Jon McNaull, vice president of PET resins at DAK Americas. “The addition of this facility will allow us to expand our sustainability initiatives.”
The terms of the agreement have not been disclosed and the acquisition is expected to be completed in the first quarter of 2019.