HCHARLOTTE, N.C. -- DAK Americas LLC announced that it plans to expand its Cape Fear Manufacturing Site near Wilmington, N.C., with the construction of a Polyethylene Terephthalate (PET) resin unit. This expansion will add a capacity of 450 million pounds, bringing DAK's total PET resin production capacity to more than 1.1 billion pounds annually. Primary markets for PET resin include containers for carbonated soft drinks, bottled waters and other beverages, as well as custom containers.
The world scale plant will use a new, proprietary melt phase technology that is state-of-the art to deliver trade leading product performance with advantages in investment and conversion costs. The project will also incorporate some existing equipment and infrastructure already located on-site. Internal logistics will be enhanced since the new facility is located adjacent to DAK Americas' TPA Plant, which will supply the raw material.
Building the new Laser +® PET Resin facility at the Cape Fear site will maximize the economies of scale for the site. A project of this magnitude typically requires 18 months to complete; construction will start immediately. The new facility represents an addition to the continuing staple fiber and TPA manufacturing units currently operating on-site. Upon completion, the resins facility will create approximately 40 new permanent jobs.
"DAK Americas is committed to the growing PET market and the Americas TPA value chain," said Hector Camberos, President & CEO, DAK Americas. "By building this resin facility and expanding our PET production capacity, we will enable DAK Americas to quickly and effectively meet customer demand."
In addition to the Cape Fear site, DAK Americas has two of the world's largest fully-operational single stream PET facilities, one line at its Cooper River Site near Charleston, S.C. and the second at the Cedar Creek Site in Fayetteville, N.C. Together both lines have a total resin production capacity of 660 million pounds.
With the additional 450 million pound capacity in Wilmington, DAK Americas is well positioned to keep pace with the burgeoning PET market in North America, which is growing by over 8 percent each year.
"DAK Americas continues to grow with the PET market in the NAFTA Region," said Tom Sherlock, Resins Business Director, DAK Americas. "The new technology will facilitate product innovation, critical for increased penetration of PET in new applications."
DAK Americas offers a wide range of its innovative resin products for use in carbonated soft drink containers, water containers, custom containers, thermoforming, crystallized PET (CPET) and heat set containers. Its Laser+® PET copolymer is widely respected among industry converters for its quality, clarity and fast processability.
About DAK Americas LLC and Alfa S.A. de C. V.:
DAK Americas, headquartered in Charlotte, N.C., is a wholly owned subsidiary of Alpek S.A. de C., the petrochemicals and synthetic fibers business group of Alfa S.A. de C.V. DAK Americas is comprised of three business units Resins (PET), Fibers (Polyester Staple) and Monomers (TPA- ingredients).
Alfa is one of Mexico's largest corporations with over 42,000+ employees and revenues of $5 billion (US) and has alliances with more than 18 leading companies worldwide.
Forward-Looking Statements: This news release contains forward-looking statements based on management’s current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. These factors could include, but are not limited to, changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales of agricultural products.
