M&G to raise Brazil PET capacity by 200,000 t/y

17 July 2008 10:15  [Source: ICIS news]

LONDON (ICIS news)--Italy’s Mossi & Ghisolfi (M&G) will raise the capacity of its single reactor Brazilian polyethylene terephthalate (PET) plant by 200,000 tonnes/year to 650,000 tonnes/year, the company said on Thursday.

The company said in a statement that the plant, at Ipojuca in northeastern Pernambuco state, was expected to come on stream in 12-15 months. It added that the necessary equipment parts orders had already been placed.

M&G said that the plant would remain the largest single reactor PET plant in the world.

“Even if growing significantly, we estimate that Brazil’s PET market will only reach 650,000 tonnes/year in 2012 or 2013,” said Marco Ghisolfi, CEO of M&G’s Polymers business unit.

“However, we have decided to anticipate our plant capacity expansion to ensure that we continue to provide stability, support and technological leadership for the growth plans of the many M&G customers who have entered into medium term contract commitments with us in Brazil.”

M&G is a family owned chemical company headquartered in Tortona, Italy that develops PET resins for container packaging and has production capacity of 1.65m tonnes/year at sites in Brazil, Italy, Mexico, and the US.

Group sales in 2007 were $2.8bn, of which around 90% came from sales of PET resin, M&G said.

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By: Hilde Ovrebekk
+44 20 8652 3214

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