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20.01.2016
M&G Chemicals plans to increase the capacity of its Corpus Christi facility. Opening in the second half of 2016

Luxembourg – 20 January 2016

M&G Chemicals plans to increase the capacity of its Corpus Christi, Texas facility by over 100kMT of integrated PET, reaching the total amount of at least 1,100 kMT of PET. PTA capacity will also be increased by the corresponding amount The original capacity plan announced for Corpus Christi was 1,000 kMT of PET and 1,200 kMT of PTA.

Marco Ghisolfi – M&G Chemicals CEO – said “We strongly believe in our Corpus Christi project, which is the most advanced ever in this industry. We decided to increase our investment in order to make it even more efficient. Most of the increased capacity has already been committed in the market. A portion of the capacity will also be used to displace our current imports from Mexico.”

This is not the first time that an M&G Chemicals facility exceeds its planned capacity. It already happened in Altamira, Mexico and Suape, Brazil, where the current capacity increased  well in excess of 30% versus the initial  design capacity.

“Our proprietary technology – added Ghisolfi – is very reliable and powerful, and it allows us to reach unprecedented targets”.

The facility is currently under construction and the opening is scheduled for the second half of 2016. The PET part of the facility is on schedule while a couple of suppliers of critical equipment to PTA are indicating some delays, which are currently being analyzed and consequences assessed. M&G is working on back-up plans to ensure no impact on PET start-up.
About M&G Chemicals
M&G Chemicals is among the three largest producers of PET resin for packaging applications in the world, and the second largest in the Americas, in terms of nominal capacity with 1,600 kMT/year, with nearly 1.4 MMtons/year of installed capacity. The Company employs more than 900 employees in 14 locations in six countries around the world. In 2015 M&G Chemicals posted an annual revenue of  $ 2.0 billion.
M&G Chemicals has manufacturing locations in Brazil, Mexico and the USA. Its plants in Suape, Brazil and Altamira, Mexico are the two largest single lines and most efficient in the world (measured in terms of operating costs per metric ton), and are based on proprietary technology. Through its engineering division Chemtex, M&G Chemicals provides technological development, research and engineering services for the construction of plants for customers in the polyester chain (including PET, polyester fibre and PTA production) and LNG industries. These activities are also aimed at enabling the production of PET resin made entirely from renewable sources. M&G Chemicals is an affiliated entity with the Mossi Ghisolfi Group.
For further information: www.mg-chemicals.com

Media Enquiries:

M&G Chemicals - U.S.:
Frank Clarke
+1.212.935.0210
fclarke@strategy-xxi.com

M&G Chemicals - Europe:
Terry Tyzack
tyzack@fastwebnet.it

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