Mossi Ghisolfi is for sale. According to different rumors in Italy, Versalis, the chemical division of the oil giant Eni, and various European (such as the French oil colossus Total) and Asian industrial groups would be interested in acquiring the Italian chemical company which is one of the world’s largest PET manufacturer with a capacity of nearly 1.6 million tonnes per year and plants in Brazil, Mexico and the United States.
A packaging revolution: Danone and Nestlé Waters, the world’s two largest bottled water companies, have joined forces with Origin Materials, a startup based in Sacramento, California, to form the NaturALL Bottle Alliance. Together, the three partners aim to develop and launch at commercial scale a PET plastic bottle made from bio-based material, i.e. 100% sustainable and renewable resources. PET (Polyethylene terephthalate) is the most common plastic in polyester family and is used in fibers for clothing, containers for liquids and foods, thermoforming for manufacturing, and in combination with glass fiber for engineering resins.
Mossi&Ghisolfi Group announced last Wednesday a Licensee Agreement with Alpek, the largest petrochemical company in Mexico and the second largest in Latin America, for IntegRex PTA, Purified terephthalic acid, technology. The technology will be used in the construction of M&G’s previously announced 1,200,000 MT per annum PTA plant at Corpus Christi, Texas. M&G also announced, Alpek purchased for a price of $350 million a multiyear sourcing agreement covering rights 400,000 MT of PET, Polyethylene terephthalate, (made with 336,000 MT of integrated PTA) per year.