Alpek Acquires CarbonLite’s PET Recycling Facility in Pennsylvania
Alpek has acquired CarbonLite Recycling PET recycling and pelletization facility in Reading, Pennsylvania in the United States. The site was acquired for U.S. $96 million on a debt-free basis and is subject to customary conditions precedent.
Easy Bottle-to-Bottle Recycling
Alpek was strongly interested in CarbonLITE’s Reading site as it is outfitted entirely with brand-new equipment, including state-of-the-art curbside bottle handling, wash lines, and a solid state polymerizer (“SSP”) that enables production of food-grade pellet which is needed for bottle-to-bottle recycling. The site has a bottle-to-flake and flake-to-pellet input capacity of 115,000 tons and 49,000 tons, respectively, making it the largest integrated rPET facility in the Americas. The site is expected to conclude commissioning and begin production ramp-up in 3Q21.
This acquisition is fully aligned with the Fostering a Circular Economy pillar of the Company’s long-term strategic growth plan. It increases Alpek’s installed rPET capacity to 394,000 tons, reaffirms its position as the largest PET recycler in the Americas, and achieves the company’s target of supplying selected customers with 25% rPET content before 2025.
“We are extremely excited to incorporate the Reading facility into our footprint and its employees into our family,” said José de Jesús Valdez, Alpek CEO. “Through this transaction we continue to tailor our portfolio for the circular economy, helping our customers meet their recycled content goals ahead of schedule.”