Company news: Alpek to shut down US PET site; Mutares launches Tier I auto supplier with EUR1 bn sales

Mexico’s Alpek says it will shut down its PET resin operations at its Cooper River site near Charleston, South Carolina, for an indefinite period.

The site was built in the early 1970’s, has an installed capacity of 170,000 tonnes of PET resin, and represents approximately 2% of Alpek’s total assets.

It says the shut down will enabling cost reductions of approximately US$20 million at an annualised rate and improvements in capacity utilisation.

Alpek adds that it is “consistently looking for ways to create value by optimising its footprint and increasing its cost competitiveness”. It adds that it will transfer Cooper River’s production to its other sites.

Alpek further says it 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.

In other news, Mutares SE & Co. says it is forming a globally active Tier 1 automotive supplier under the umbrella of its new wholly-owned subsidiary Amaneos SE. The newly founded holding company, headquartered in Frankfurt, will combine the Mutares portfolio companies Light Mobility Solutions GmbH (LMS), MoldTecs GmbH and SFC Group to form a global player with more than 7,500 employees at approx. 30 locations and annual revenues of around EUR1.2 billion.

Amaneos, as a newly formed specialist for plastic-based systems for the automotive market within the Mutares Group, has a significant influence on future growth. SFC Group (share of sales approx. 29%) develops and produces fluid transfer systems, sealing solutions, and rubber and thermoplastic components, LMS (share of sales approx. 30%) offers a comprehensive product portfolio of exterior and interior systems as a producer of lightweight components, and MoldTecs (share of sales approx. 41%) manufactures plastic parts using injection moulding machines.

The combination of the three Mutares portfolio companies gives Amaneos a complementary product portfolio covering more than 60% of the plastic parts in an average vehicle. With production and business locations in key markets worldwide, Amaneos positions itself as a major Tier 1 supplier to all international automotive manufacturers.

Within Amaneos, there is significant additional synergy potential in marketing, through the sharing of know-how and technology, and in product development, in order to make an innovative contribution to the mobility of tomorrow with flexible, tailored and innovative solutions across all Amaneos divisions.

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