DAK says the acquisition of CabelmaPET S.A. will strengthen its product sustainability and improve its trade balance.
DAK Americas Argentina S.A. (DAK), a producer of polyethylene terephthalate (PET) resins based in Argentina, has announced the acquisition of CabelmaPET S.A., a PET bottle recycling operation located in Buenos Aires, Argentina. Terms and conditions of the acquisition were not disclosed. The acquisition will be subject to post-closing review by Argentina's antitrust authorities.
The acquired facility currently recycles more than 16,000 metric tons of PET bottles per year, which should significantly increase the sustainability of DAK's product line, as well as help customers streamline their processes, DAK reports. About 100 employees associated with CabelmaPET, S.A. recycling operations are part of the acquisition. Cabelma S.A., which manufactures plastic crates, is not included in the acquisition.
DAK currently produces more than 190,000 metric tons per year of virgin PET resin at its Zarate, Argentina, facility. The company plans to integrate the post-consumer recycled material from the acquired facility into its manufacturing process upon completion of process upgrades. The new integrated product offerings will be marketed as a single-pellet solution under DAK's Laser+ brand of PET resins.
"This acquisition demonstrates DAK's commitment to finding and leveraging opportunities that best serve our customers, the economic health of Argentina and the environment," says Hector Camberos, president, DAK Americas Argentina, S.A. "The acquisition not only has tremendous impact in terms of product sustainability, but it will greatly improve our trade balance, allowing us to substitute imports by establishing a raw material stream directly from within Argentina."
DAK's ability to incorporate recycled PET material directly into its operations is expected to benefit customers in the bottling and packaging industries by supplying a single-pellet solution with a specified recycle content, eliminating the need for customers to establish duplicate feed processes and blending processes to accommodate recycled materials into their respective product lines.
DAK Americas Argentina is wholly owned by Alpek, S.A.B. de C.V., based in Monterrey Mexico, and is part of the DAK Americas which comprises five business units: PET, Polyesters Staple Fibers, Monomers/ ingredients, Specialty Polymers and GreenPET.