M&G MEXICO
Financially troubled PET producer still receiving PTA deliveries from Alpek / Restructuring plan approved
 The Altamira PTA facility serves M&G Mexico’s PET production (Photo: Alpek) |
The ongoing uncertainty regarding the future of PET production at M&G Polímeros México in Altamira / Mexico has been resolved for the moment. Long-standing compatriot supplier Alpek (Mexico City; www.alpek.com) has guaranteed the further supply of PTA feedstock.
Prior to this, the company’s creditors, including a number of Alpek subsidiaries, had approved the restructuring plan for the financially troubled PET producer. One key aspect for Alpek was the assurance that M&G Mexico would repay its debts of USD 160m (EUR 136m) plus interest to the PTA supplier over the next five years (see Plasteurope.com of 18.01.2018).
Prior to this, the company’s creditors, including a number of Alpek subsidiaries, had approved the restructuring plan for the financially troubled PET producer. One key aspect for Alpek was the assurance that M&G Mexico would repay its debts of USD 160m (EUR 136m) plus interest to the PTA supplier over the next five years (see Plasteurope.com of 18.01.2018).
18.09.2020 Plasteurope.com [245914-0]
Published on 18.09.2020
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