Monterrey, Mexico-based chemical companies Grupo Celanese SA and Grupo Alfa SA de CV signed an agreement Nov. 7 to concentrate regional production of polyester and nylon. The arrangement was approved in mid-October by Mexico's antitrust body, the Federal Commission for Competition.
Under terms of the pact, Alfa petrochemicals unit Alpek SA is buying all the machinery and equipment for nylon polymer and textile production at the Ocotl n, Mexico, complex of Hoechst AG subsidiary Grupo Celanese. Alpek is also acquiring Grupo Celanese's 51 percent stake in Univex SA, a producer of the nylon raw material caprolactam located at Salamanca, Mexico.
Grupo Celanese, formerly known as Celanese Mexicana SA, will invest US$70 million of the proceeds it receives from the deal to invest in expansion of its PET resin and polyester short-fiber operations.
The Hoechst firm said it plans to expand its production of bottle-grade PET resin by 68 percent, taking annual capacity to 3.9 million pounds.
Grupo Celanese raised capacity at its Quer‚taro, Mexico, plant to 2 million pounds during the third quarter this year to meet rapidly growing domestic and international demand, according to the company.
A spokesman said Grupo Celanese has invested US$477 million in recent years to strengthen its Mexican production.