Alpek SAB de CV has closed its PET resin plant in Charleston, S.C., for an indefinite period.
The site known as Cooper River was built in the early 1970s, and has annual production capacity of about 375 million pounds, officials with Alpek in Monterrey, Mexico, said in a March 1 news release.
They added that the site represents about 2 percent of Alpek's total assets.
Alpek will transfer Cooper River's PET resin production to its other sites, officials said, enabling annual cost reductions of around $20 million and improvements in capacity utilization.
The firm "is consistently looking for ways to create value by optimizing its footprint and increasing its cost competitiveness," they added. "As such, it has been growing with more efficient assets that maintain the company as one of the leaders in its industry."
"Alpek remains fully committed to its long-term strategy by streamlining its facilities, growing through various strategic projects and enhancing its recycling capabilities across its product portfolio," the company added.
According to the state Department of Employment and Workforce, the plant closed permanently on March 1, impacting 125 jobs.
Alpek is a leading global supplier of PET and purified terephthalic acid. In North America, the firm owns and operates PET maker DAK Americas of Charlotte, N.C., as well as Mexican polypropylene maker Indelpro. Alpek also is a leading supplier of expandable polystyrene and recycled PET in the Americas.