Alpek suffers due to oversupply of polyester - sportstextiles: Lea SportsTextiles

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Alpek suffers due to oversupply of polyester

21/02/2014
Mexican chemical company Alpek, whose biggest product is polyester, blamed overcapacity in Asia and “volatility of prices of raw materials” for missing its earnings estimates.

“The current oversupply situation in Asia on the polyester chain will not change in the next two years and will keep the company’s growth under its potential,” said Credit Suisse analysts.

Alpek, which got about 80% of revenue in 2012 from polyester, reported earnings of $132 million for the fourth quarter 2013, with polyester sales down 9%.




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