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Dak Americas to acquire the PET business

June 20/2011

(BNAmericas) -- Dak Americas, a subsidiary of Mexican conglomerate Alfa (BMV: ALFA), has agreed to acquire the PET business of US plastic packaging company Wellman in a deal worth approximately USD 185mn in cash and the assumption of certain liabilities, Alfa said in a filing with the Mexico City bourse.

The acquisition involves a 430 KTa PET plant in Bay St Louis, Mississippi, which employs 165 people, and is expected to close during the second quarter this year, subject to regulatory approval.

"With this transaction, our subsidiary Dak Americas will increase efficiency, gain flexibility and expand its product range to better serve the needs of its customers," said Alfa general director Alvaro Fernandez Garza.

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