Alpek de CV : completed the acquisition of Petroquímica Suape and Citepe
May 30, 2018 at 07:51 pm EDT
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Alpek completed the acquisition of Petroquímica Suape and Citepe
Monterrey, Mexico. April 30, 2018 - Alpek, S.A.B. de C.V. ("Alpek") announced today that it completed the acquisition of Companhia Petroquímica de Pernambuco ("Petroquímica Suape") and Companhia Integrada Têxtil de Pernambuco ("Citepe") from Petróleo Brasileiro S.A. ("Petrobras") through two of its wholly-owned subsidiaries. Pursuant to the purchase agreement, Alpek acquired Petrobras' 100% stake in the two companies on a debt-free basis for a total amount of U.S. $435 million. The U.S.$385 million agreed upon price was adjusted due to higher working capital and cash balances, plus dollar-denominated inflation, among others.
Petroquimica Suape and Citepe operate an integrated PTA-PET facility in Ipojuca, Pernambuco, Brazil with an installed capacity of 640 and 450 thousand tons per year PTA and PET, respectively. Citepe also operates a 90 thousand tons per year texturized polyester filament plant on site. Alpek will take control of Petroquimica Suape and Citepe's operations as of May 1, 2018.
About Alpek:
Alpek is a leading petrochemical company operating two business segments: "Polyester" (PTA, PET and polyester fibers), and "Plastics & Chemicals" (polypropylene, expandable polystyrene, caprolactam, and other specialty and industrial chemicals). Alpek is an integrated producer of PTA and PET in North America, the largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in Mexico. Alpek also operates one of the largest polypropylene facilities in North America. In 2017, Alpek reported revenues of U.S. $5.2 billion and EBITDA of U.S. $384 million. The Company operates 23 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile, and employs more than 5,000 people. Alpek is a publicly traded company listed on the Mexican Stock Exchange.
For further information: Hernán F. Lozano Investor Relations Officer Alpek, S.A.B. de C.V.
Alpek SAB de CV published this content on 30 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 April 2018 23:50:05 UTC
Alpek SAB de CV is a Mexico-based company engaged in the chemicals sector. The Company's activities are divided into two business segments: Polyester and Plastics & Chemicals. The Polyester division focuses on the manufacture and distribution of purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester fiber. The Plastics & Chemicals division is responsible for the production of polypropylene (PP), expandable polystyrene (EPS), caprolactam (CPL), ammonium sulfate, as well as specialty and industrial chemicals, such as surfactants, ethoxilates, glycoethers and desemulsionates. The Company's products are used in a range of industries, including consumer goods, food and beverages, automotive, construction, agriculture, oil and gas, as well as pharmaceuticals. It operates a number of production plants in the Americas. The Company is controlled by Alfa SAB de CV.
ALPEK, S.A.B. DE C.V. 
