Mexican conglomerate to buy Coast plant
by Associated Press
Published: June 20,2011
BAY ST. LOUIS — DAK Americas LLC has agreed to buy Wellman Inc.’s PET plastics plant in Bay St. Louis for $185 million.
DAK Americas is a unit of Mexican conglomerate Alfa SAB. The company announced the deal June 16, according to the Mississippi Press. The purchase amount includes a cash payment and assumption of some liabilities.
The 165-worker plant in the Port Bienville Industrial Park has the capacity to make 430,000 tons a year of PET, a plastic resin used to make drink bottles and other items.
The deal is expected to close in the second half of 2011, pending regulatory approval, said DAK, based in Charlotte, N.C.
Source: Mississippi Press
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Mexican conglomerate to buy Coast plant”
Top Posts & Pages
- IKE TROTTER: There are primary changes in Social Security for 2014
- Hood clarifies opinion on open-carry gun law
- Expert on airlines predicts Jackson-Evers will keep remaining carriers
- MAN OF STEEL: Madhu Ranade leading Severstal Columbus
- Alumni-couple donate $12.3M to Mississippi State
- Town given Obamacare insurance break, but faces additional costs in 2015
- Officials hand mayor projects list totaling $57.7M
- Public meeting called to mull future of convention center
- Court to hear case involving alligators and ExxonMobil
- C Spire launches next phase of 1-gig service rollout