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M&G Chemicals Fully Operational in mid 2017

Published Wednesday, April 26, 2017

19.04.2017
The world’s largest resin-processing plant is expected to be fully operational by mid-2017, creating up to 250 permanent jobs and manufacturing over a million tons of PET resin a year at Port Corpus Christi.

Corpus Christi, Texas – April 19, 2017

The world’s largest resin-processing plant is expected to be fully operational by mid-2017, creating up to 250 permanent jobs and manufacturing over a million tons of PET resin a year at Port Corpus Christi.
“ In December the general contractor for the project, Chemtex, hired Bay Ltd., to continue work after IMS, the previous contractor, walked off the job delaying the project,” says Mauro Fenoglio, the global manufacturing director for M&G Chemicals.
" Last December, IMS declared it was stopping work and walking off the job with its subcontractors unless they were paid over $50 million in two days. IMS did not provide any proper justification or explanatory documentation to support this extraordinary demand, which was well outside all contracts. Chemtex is now focusing on catching up from the delays and harm caused by IMS walking off the job and re-doing work that IMS improperly completed."
M&G is continuing to sort through the various claims of IMS subcontractors that were not paid even though IMS had routinely claimed it had paid its subcontractors. M&G is working to resolve these issues which will not affect the future manufacturing at the plant.

About M&G Chemicals

M&G Chemicals is among the three largest producers of PET resin for packaging applications in the world, and the second largest in the Americas, in terms of nominal capacity with 1,600 kMT/year, with nearly 1.4 MMtons/year of installed capacity. The Company employs more than 900 employees in 14 locations in six countries around the world. In 2013 M&G Chemicals posted an annual revenue of €1,675 million.
M&G Chemicals has manufacturing locations in Brazil, Mexico and the USA. Its plants in Suape, Brazil and Altamira, Mexico are the two largest single lines and most efficient in the world (measured in terms of operating costs per metric ton), and are based on proprietary technology. Through its engineering division
Chemtex, M&G Chemicals provides technological development, research and engineering services for the construction of plants for customers in the polyester chain (including PET, polyester fibre and PTA production) and LNG industries. These activities are also aimed at enabling the production of PET resin made entirely from renewable sources. M&G Chemicals is an affiliated entity with the Mossi Ghisolfi Group.

For further information:
www.mg-chemicals.com

Media Enquiries:
Terry Tyzack
Email: tyzackterry@gmail.com

 

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