“The recycled eps foam densifier trade is a great
opportunity for Alpek to establish its EPS business in Mexico, expand
its presence in the Americas and consolidate its ‘plastics and
chemicals’ product portfolio,” said Joséde Jesús Valdez, CEO of Alpek.
We will continue to provide our customers with a high standard of
quality and service. ”
“The acquisition of the PU business significantly strengthens BASF’s
ability to provide high-performance industrial materials to North
American and global customers, and will focus its EPS business on
strategic markets in Europe and Asia,” said Raimar Jahn, President,
BASF’s High Performance Materials Division. Said.
Alpek and BASF announced that they have signed an agreement on EPS
(Expanded Polystyrene) and PU (Polyurethane) business of the joint
venture Polioles in Mexico, as well as BASF’s EPS business in North and
South America.
The agreement stipulates that Alpek will acquire all EPS business of
the Polioles joint venture company, including its production base in
Altamira, Mexico. BASF will acquire Polioles’ PU business, which
includes all of its selected assets at the Lerma plant, as well as all
marketing rights for products such as polyurethanes, isocyanates and
polyols.
In addition, under the agreement, Alpek will receive BASF’s EPS
business activities in North and South America, including BASF’s sales
and distribution channels for EPS business in North and South America,
BASF’s EPS production facilities in Brazil’s Guaratinguetá and
Argentina’s GeneralLagos, and EPS foam components in Chile business.
It is reported that the total capacity of Alpek’s eps foam regenerative
hot melt block total capacity is 230,000 tons / year. All agreements
are subject to approval by the relevant agencies, is expected to be
completed in early 2015. Upon completion of the transaction, Polioles
will continue to operate as a joint venture between Alpek and BASF.