DAK Americas, Charlotte, North Carolina, has completed a transaction with IMG Group of Portugal to acquire a controlling interest in Selenis Canada Inc., Montreal.
DAK, a wholly owned subsidiary of Mexico-based Alfa S.A.B., is one of the largest integrated producers of PET (polyethylene terepthalate) resins in the world and a major producer of polyester staple fibers. DAK has five business units: monomers, fibers, resins, specialty polymers and GreenPET. The company operates seven production facilities in North America.
Selenis Canada operates a PET plant that can produce 144,000 tons of PET resin per year.
In acquiring a controlling stake in Selenis Canada, DAK says it now has the ability to expand its operations into Canada, to produce differentiated products and to enhance raw material synergies.
The transaction has been approved by the Canadian Competition Bureau.
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