DAK Americas to Acquire Wellman’s PET Business in U.S.

DAK Americas LLC, Charlotte, N.C., is acquiring the PET business of Wellman Inc. According to DAK, the total value of the acquisition is $185 million, including cash and the assumption of certain liabilities. The transaction is expected to close in the second half of 2011, pending regulatory approval.

“DAK Americas is extremely excited about the acquisition as it will provide DAK with a state-of-the-art facility and an expanded asset base," says Jorge Young, executive vice president, DAK Americas. "The site that will increase efficiencies and provide added product flexibility to better serve the needs of customers in the PET Resin marketplace."

The acquisition includes PET resin production facilities in Bay St. Louis, Miss., which has an annual production capacity of 950 million pounds per year.

“This will allow DAK to continue to innovate and cost-effectively serve ever-growing customer needs,” says Tom Sherlock, DAK PET Resins business director. “The addition of this manufacturing facility will allow DAK to broaden its PET resin product offerings."

DAK Americas is a wholly owned by Alfa S.A.B. de C.V. of Monterrey Mexico. DAK Americas is comprised of four business units: PET, polyesters staple fibers, monomers/ ingredients and specialty polymers.