PET resin project proposed in South Carolina

By Frank Esposito
Senior Staff Reporter

Published: March 27, 2014 4:46 pm ET
Updated: March 27, 2014 4:49 pm ET

Related to this story

Topics Materials Suppliers United States
Companies & Associations

More PET resin capacity might be headed to an already oversupplied North American market.

A pair of South Carolina publications have reported that an unnamed company based outside of North America plans to build a major PET plant in Charleston. That information became public when Cooper River Partners LLC — which owns the Bushy Park Industrial Complex there — filed a request with the Army Corps of Engineers to fill more than 10 acres of freshwater wetlands at the site, according to the Charleston (S.C.) Post & Courier.

The firm also wants to build a private marine terminal, install a rail spur and dredge about 93 acres to accommodate ocean-going ships, the paper said. The project is expected to create 700 new jobs and could have almost one billion pounds of annual PET capacity.

Cooper River Partners executive Marc Fetten told the paper that his firm had been working on the project for two years. “Our attitude is that we don’t file for permits unless we have a good degree of certainty these things will happen,” he said.

A story in Charleston-based business magazine SCBIZ added that the facility’s manufacturing processes will use a new technology that relies on sugarcane as the raw material rather than fossil fuel inputs.

DAK Americas LLC already makes PET in the area at its Cooper River plant. That site had made polyester fibers and added PET production in 2003.

The announcement comes as a bit of a surprise, since market watchers have estimated that the North American PET market already is oversupplied by at least 1 billion pounds. Bottles made with PET have become much thinner in recent years and consumption of carbonated soft drink has been flat to negative.

These conditions already had led market watchers to question North American PET expansions planned by Indorama Ventures Public Co. Ltd. and M&G Group. Indorama plans to build a new plant with 1.2 billion pounds of annual capacity in Decatur, Ala., with an opening date of late 2015. M&G intends to build a massive new PET plant in Corpus Christi, Texas. That plant — with 2.2 billion pounds of annual capacity — is expected to open sometime in 2016.


Comments

PET resin project proposed in South Carolina

By Frank Esposito
Senior Staff Reporter

Published: March 27, 2014 4:46 pm ET
Updated: March 27, 2014 4:49 pm ET

Post Your Comments


Back to story


More stories

Image

Ford moving forward in carbon fiber for 'high volume' use

April 17, 2015 10:21 am ET

Ford Motor Co. has signed a deal with a carbon-fiber manufacturer to jointly explore “high-volume” automotive uses for the lightweight...    More

Image

Force majeure declared at six European sites since mid-March

April 17, 2015 1:10 pm ET

At least six European resin makers have declared force majeure on polyethylene, polypropylene and related products since mid-March, leading to higher ...    More

Image

Executives step down from Star Thermoplastics

April 17, 2015 12:56 pm ET

Executives Randall Fortin and Larry Johnson no longer are with materials firm Star Thermoplastics Alloys & Rubbers Inc.    More

Image

Zoltek expanding CF capacity in Europe

April 17, 2015 10:12 am ET

Leading carbon fiber group Zoltek Corp. has signed a strategic agreement with the Hungarian government to expand its operation in northern Hungary,...    More

Image

Hanwha Azdel adds capacity in Lynchburg

April 16, 2015 2:01 pm ET

Composite maker Hanwha Azdel Inc. will add space and a new production line at its Lynchburg, Va., production facility, the company announced April 16.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events