Alpek on October 19 announced that one of its subsidiaries had signed an agreement to acquire Nova Chemical’s 100% stake in BVPV Styrenics LLC. BVPV Styrenics owns and operates two facilities in Monaca, Pennsylvania, and in Painesville, Ohio. The Monaca facility has a capacity of 123,000 tons/year of expandable polystyrene (EPS) and 36,000 tons/year of ARCEL®. It also includes a world-class research and development pilot plant. Meanwhile, the Painesville plant can produce up to 45,000 tons/year of EPS.
According to Alpek, the acquisition is in line with its long-term growth strategy to strengthen its position as the industry’ leader in the Americas. The new assets will also enable Alpek to serve customers with increased efficiency and lower logistics costs. Alpek will also push further into specialty application markets with ARCEL®, an EPS-PE copolymer used in protective packaging for electronics. Alpek CEO Jesús Valdez said the company would focus on integrating new team members smoothly and synergising business quickly. The deal is expected to be finalised in this quarter.
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Published on October 21, 2020 5:19 PM (GMT+8)Last Updated on October 21, 2020 5:19 PM (GMT+8)
