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M&G expects to import less PET from Mexico with new Texas plant
HOUSTON, January 20, 2016 (PCW) -- M&G Chemicals expects to import less PET from Mexico than it currently does due to more PET production at its Corpus Christi, Texas, plant, than originally planned, the company said Wednesday.
The plant is expected to be the world's largest producer of PET. It is under construction and expected online in H2 2016.
It was originally designed with production capacity of 1 million metric tons/year and is now 1.1 million MT/year. It will also produce PTA feedstock.
Mexico in 2014 was the leading exporter of packaging-grade PET to the US, in terms of volume. M&G operates a PET plant in Altamira, Mexico.
"A portion of the [Corpus Christi PET] capacity will also be used to displace our current imports from Mexico," the company said in a statement.
When asked for details, company spokesman Scott Van Camp said: "We don't comment on our marketing strategies, but the flows will be optimized, and Corpus is dedicated to the US market."
The PTA part of construction has been delayed because "Some critical equipment has run into problems," Van Camp said.
Despite this, M&G said PET production would begin in H2 2016. When asked for a more specific timeframe, Van Camp, said, "the exact month, as with normal investments of this size, is difficult to precisely predict now." -- Xavier A. Cronin
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