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January 10, 2019


Updated 1/10/2019




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DAK Americas LLC is acquiring a large PET recycler in eastern Indiana.

The Charlotte, N.C.-based PET resin maker has “an asset purchase agreement” with Perpetual Recycling Solutions LLC, which operates a 100-million-pound per year recycling facility in Richmond, Ind.

Perpetual processes post-consumer bottles and food containers into recycled PET flake. DAK is a unit of Alpek SAV de CV of San Pedro Garza García, near Monterrey, Mexico.

“The acquisition of Perpetual and additional rPET capacity demonstrates Alpek Polyester’s ongoing commitment to sustainable product offerings to meet growing customer and consumer demand for rPET content,” Jon McNaull, vice president of PET resins at DAK Americas, said.

The acquisition is expected to close during the first quarter, and terms were not disclosed.

Alpek said the Richmond facility will complement its existing food-grade PET recycling operations in Argentina as well as a fiber-grade PET recycling joint venture in Fayetteville, N.C.,

Alpek is an integrated producer of PET and PTA in North America and is “the largest producer of expandable polystyrene” in the Americas, the company said.

The chemical company also operates one of the largest polypropylene facilities in North America as part of its network of 26 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile.

Starting operations in 2012, this is the second time the Richmond PET recycler is being sold.

Sorema Plastics Recycling Systems and members of management purchased the facility in 2015. Sorema, a division of Previero of Italy, has built hundreds of recycling systems around the world, including equipment at Perpetual.

News of the latest deal comes just a few weeks local economic development officials indicated Perpetual planned to invest $5.2 million for new equipment, building improvements and employee training. The firm received a $25,000 Economic Development Income Tax Grant from the Economic Development Corp. of Wayne County, Ind., as part of that project.

Perpetual opened in 2012 in the former General Aluminum facility. Current employment is 76, the economic development agency said.

End markets for Perpetual’s rPET include food and beverage packaging and textiles.

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