M&G to launch new PET and PTA plants
Southern US will host next generation plants
The M&G Group, producer of PET for packaging applications, announced today that it will build a next generation technology PET plant in the United States, integrated with a new PET plant at the same site, which will generate around 250 jobs.
PET, or polyethylene terephthalate, is a thermoplastic polymer resin used in the production of packaging for products like drinks, pharmaceuticals and personal care products.
The new plant, which will be located in the Southern US, is going to be the largest plant of this kind worldwide.
The PTA unit will have a capacity of approximately 2.6bn lbs/year and it will provide full upstream integration for all of M&G’s American PET capacity.
“Our PET technology, which allows us to build plants over four times larger than those achievable with commercially available technologies, can today be combined with PTA plants with matching sizes and efficiency.
This formidable combination, and the flexibility of its assets, will enable M&G to cost effectively service future industry growth and to have by far the most competitive cost base not only in the Americas but globally,” said Marco Ghisolfi, ceo of M&G’s Polymers Business Unit.