DAK Americas makes PET acquisition - sportstextiles: Lea SportsTextiles

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DAK Americas makes PET acquisition

16/06/2011
Polymers and fibres manufacturer DAK Americas has announced that it has agreed to acquire the PET business of Wellman. The total value of the acquisition is approximately $185 million. The transaction is expected to close in the second half of 2011 pending regulatory approval.

“DAK Americas is extremely excited about the acquisition as it will provide us with a state-of-the-art facility and an expanded asset base. The site that will increase efficiencies and provide added product flexibility to better serve the needs of customers in the PET Resin marketplace,” said Jorge Young, executive vice-president of DAK Americas.

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