Company: M & G Resins
Industries: Manufacturing and Production
M&G Chemicals is a Group of companies focused on the production of PET resins and engineering for the construction of plants in several industries. 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, and employed 900 people in 14 locations in six countries around the world. In 2014 Revenues reached USD 2.1 bil. In addition, through Chemtex, its Engineering Division, the Company provides technological development, research and engineering services for the construction of plants for the polyester, renewables and LNG industries. The Company, whose business began in 2000 as a Division of the Mossi Ghisolfi Group, is currently in the process of carrying out a reorganization, the purposes of which is to reduce intra-group financial relationships, reduce income volatility resulting from foreign exchange fluctuations, focus on core businesses and improve communication, governance and internal control. M&G Chemicals, based in Luxembourg, has manufacturing locations in Brazil, Mexico, USA. Its plants in Suape (Brazil) and Altamira (Mexico) are the two largest single lines and most efficient (measured in terms of operating costs per metric ton) in the world and are based on proprietary technology. In Asia (particularly China and India) the company is operating as a technology provider and is planning to become a polyester raw material supplier in order to participate in the high growth potential of the China polyester market. Chemtex expertise in plant engineering allows the Company to enjoy significant synergies and cost savings between the two divisions, in particular by allowing to carry out vertical integration projects in a cost-effective manner, and to offer customers (particularly in Asia) access to Company’s innovative technologies. The Group of companies controlled by M&G Chemicals is made of the following: M&G Polymers USA and M&G Resins USA M&G Polimeros Mexico M&G Poliéster S.A. and M&G Polìmeros Brasil Chemtex USA Chemtex China Chemtex India Our parent Group, Mossi Ghisolfi Group, founded in 1953 in Italy, has been operating in the plastic processing industry for 60 years, and constructed its first large-scale PET plant in 1985, which was the then-largest single PET production line in the world with a nominal capacity of 50 kMT/year.