Alpek announced the shutdown of 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 tons of PET Resin, and represents approximately 2% of Alpek’s total assets.

Alpek is consistently looking for ways to create value by optimizing its footprint and increasing its cost competitiveness. As such, it has been growing with more efficient assets that maintain the Company as one of the leaders in its industry. Alpek will transfer Cooper River’s PET Resin production to its other sites, enabling cost reductions of approximately U.S. $20 million at an annualized rate and improvements in capacity utilization.

Alpek 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.