M&G Polymers have just completed their acquisition of Rhodia-ster S.A. of Brazil from Rhodia.
Included in the acquisition were all the equity interests in Rhodia-ster including production assets:
- A 200kt PET resin plant
- A 18kt PET recycling plant
- 90kt polyester fibre capacity spread over 2 plants
- A majority ownership of Rhodiaco Industrias Quimicas Ltda which has a 225kt PTA plant
M&G will also make a bid to acquire outstanding shares in Rhodia-ster from minor shareholders as required by Brazilian legislation.
For more information on PET, click here.