Mexico City — Independent polymer resins distributor Polímero y Materias Primas Internacionales SA de CV (Polymat) will launch a trading and distribution company in the United States in 2016, according to Managing Director Ángel Ramón Oria Varela.
“We're growing and will open a company in Houston in the second quarter of this year,” Oria told Plastics News. “I cannot give you the name of the company,” he said, adding, “we will invest enough money to be a global competitor in the distribution and trade of plastic resins. We've been working on this for the past two years.”
Oria, who formed Polymat in 1988 together with Fernando López, said the company is among the top five in its field in Mexico. It has been named as a distributor of products from Ethylene XXI, the $4.5 billion joint venture between Brazil's Braskem SA and Mexico's Grupo Idesa SA de CV, scheduled to come on stream in the first half of 2016.
“We're very proud” to have been appointed, Oria said.
Asked whether Polymat is considering merging with any other companies, Oria replied: “We've looked for opportunities in the past but now we are planning to go by ourselves. If someone wants to join [us], we would be prepared to listen.”
Oria, a former president of ANIPAC, Mexico's plastics industries association (Asociación Nacional de Industrias del Plástico AC), said Polymat is also working “very closely” with Pemex to “recover the availability and production levels of (Pemex's) polyethylene plants.”
Pemex, or Petróleos Mexicanos, is the Mexican state-owned oil, gas and petrochemicals company.