M&G Polymers USA LLC, a subsidiary of Gruppo Mossi & Ghisolfi, completed the first two phases of a three phase PET expansion at their 626 million pound per year PET plant in Apple Grove, West Virginia.
Construction of the $35 million project began last year and the third phase is expected to be complete in the first half of next year.
The company also anticipates the expansion of its Altamira, Mexico plant to be complete by the first quarter of next year.
M&G acquired the Apple Grove PET plant as well as assets in Italy, Mexico, and the United States from Shell Chemical in 2000.
The M&G Group also announced that it has agreed to acquire from Rhodia its entire 88.4 percent equity interests in Rhodia-ster S.A. of Brazil. The acquisition is expected to close on September 30, and is subject to the receipt of all government and regulatory approvals required by applicable law.
The acquisition will make M&G the world’s second largest producer of PET, which is the major material used in beverage packaging.
The production assets in Brazil controlled by Rhodia-ster include: a 200,000 metric ton PET resin plant; 90,000 metric tons of polyester fiber capacity; and a majority ownership of Rhodiaco Indústrias Químicas Ltda. which operates a 225,000 metric ton PTA plant.