Monterrey, Mexico, July 16th, 2018 – Alpek, S.A.B. de C.V. (“Alpek”) informs that a fire occurred in a section of its PTA plant in Altamira, Mexico on Sunday, July 15th. The situation was controlled promptly by internal and external emergency response teams with no reported injuries. Alpek is working to mitigate the impact of the …
Monterrey, Mexico. May 28, 2018 – Alpek, S.A.B. de C.V. (“Alpek”) announced today that Eduardo Alberto Escalante Castillo, Alpek’s Chief Financial Officer (CFO) since 2013, was appointed CFO of Alfa S.A.B. de C.V. effective June 1, 2018. Alpek’s CFO position will remain vacant until further notice. Alpek greatly appreciates Mr. Escalante’s valuable contributions during his …
Monterrey, Mexico. April 30, 2018 – Alpek, S.A.B. de C.V. (“Alpek”) announced today that it completed the acquisition of Companhia Petroquímica de Pernambuco (“Petroquímica Suape”) and Companhia Integrada Têxtil de Pernambuco (“Citepe”) from Petróleo Brasileiro S.A. (“Petrobras”) through two of its wholly-owned subsidiaries. Pursuant to the purchase agreement, Alpek acquired Petrobras’ 100% stake in the …
Monterrey, Mexico. March 21, 2018 – Corpus Christi Polymers LLC (“CC Polymers”), a newly formed joint venture between Alpek, S.A.B. de C.V. (“Alpek”), Indorama Ventures Holdings LP (“Indorama”) a subsidiary of Indorama Ventures public company limited, and Far Eastern Investment (Holding) Limited (“Far Eastern”), has entered into an asset purchase agreement with M&G USA Corp. …
Monterrey, Mexico. February 13, 2018 – Alpek, S.A.B. de C.V. (“Alpek”) announced today its 2018 Guidance which is based on an average Brent crude oil reference price of U.S. $57 per barrel. 2018 Guidance excludes any effect from non-cash inventory gains/losses and extraordinary events such as the acquisition of PetroquímicaSuape/Citepe and the sale of the …
Monterrey, Mexico. February 7, 2018 – Alpek, S.A.B. de C.V. (“Alpek”) announced today that it obtained the required regulatory approval from the Court of the Administrative Council for Economic Defense (CADE) in Brazil to acquire 100% of Companhia Petroquímica de Pernambuco (“PetroquímicaSuape”) and Companhia Integrada Têxtil de Pernambuco (“Citepe”) from Petróleo Brasileiro S.A. (“Petrobras”). As …
Monterrey, Mexico. January 11, 2018 – Alpek, S.A.B. de C.V. (“Alpek”) announced today that it signed an agreement to provide secured financing to M&G Polímeros México, S.A. de C.V. (“M&G Mexico”). The new credit facility is secured by a second lien on M&G Mexico’s PET production facility in Altamira, Mexico, and has a two-year term …
Monterrey, Mexico – November 9, 2017 – Alpek, S.A.B. de C.V. (“Alpek”) and ContourGlobal entered into a 60-day exclusivity period to conduct confirmatory due diligence and negotiate final agreements in relation to ContourGlobal’s potential acquisition of Alpek’s cogeneration power plants in Cosoleacaque and Altamira, Mexico. Alpek and ContourGlobal will disclose the economic terms of the …
Monterrey, Mexico. September 12, 2017 – Alpek, S.A.B. de C.V. (“Alpek”) announced today that several subsidiaries of M&G Chemicals, S.A. (“M&G”) passed due on a number of payments associated with the supply ofpurified terephthalic acid (PTA). As of today, M&G’s consolidated past due balance with Alpek amounts to US$ 49 million, approximately 40% of its …
Monterrey, Mexico. April 3, 2017 – Alpek, S.A.B. de C.V. (“Alpek”) announced today that it obtained all necessary corporate approvals to acquire 100% of Companhia Petroquímica de Pernambuco (“PetroquímicaSuape”) and Companhia Integrada Têxtil de Pernambuco (“Citepe”) from Petróleo Brasileiro S.A. (“Petrobras”) for U.S. $385 million. This amount is payable on the closing date for the …