(Alpek, 10.Sep.2019) — Alpek, S.A.B. de C.V. says it has met all the legal dispositions required by the Comisión Federal de Electricidad (CFE) and Centro Nacional de Control de Energía (CENACE), to begin commercial operations at Cogeneración de Altamira S.A. de C.V., its 350MW electric power cogeneration plant in Altamira, Mexico. The plant will officially start its commercial operations as of 00:00 hours on September 11, 2019.
Alpek has now met all the regulatory requirements needed for the sale of its two power cogeneration plants. Having done so, Alpek has now moved to close the transaction, which it expects to finalize in the upcoming days.
Alpek (www.alpek.com) is a leading petrochemical company operating two business segments: “Polyester” (PTA, PET and polyester fibers), and “Plastics & Chemicals” (polypropylene, expandable polystyrene, caprolactam, and other specialty and industrial chemicals). Alpek is an integrated producer of PTA and PET in North America, the largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in Mexico. Alpek also operates one of the largest polypropylene facilities in North America. In 2018, Alpek reported revenues of U.S. $6.9 billion and EBITDA of U.S. $1,063 million. The Company operates 27 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile, and employs more than 5,700 people. Alpek is a publicly traded company listed on the Mexican Stock Exchange.