Petrochemical
Alpek completes acquisition of Octal
This acquisition forward-integrates Alpek into the high-value PET sheet business segment, closes the gap towards achieving its ESG goals, and enhances its ability to serve its customers’ growing PET resin needs
- By ICN Bureau
| June 04, 2022
Alpek S.A.B. de C.V. has received all necessary approvals from the regulatory authorities and has finalized its acquisition of OCTAL Holding SAOC.
This acquisition forward-integrates Alpek into the high-value PET sheet business segment, closes the gap towards achieving its ESG goals, and enhances its ability to serve its customers’ growing PET resin needs.
Pursuant to the purchase agreement, Alpek acquired 100% of the shares of OCTAL for $620 million on a debt-free basis. Financing was secured through a mix of free cash flow generated from existing businesses and dedicated bank loans.
The Company expects an accretive EBITDA effect of approximately U.S. $120 million from these assets throughout the remainder of 2022, largely based on the better-than-expected Polyester market conditions prevalent in recent months. This would increase the Company’s Comparable EBITDA Guidance to U.S. $1,370 million and Reported EBITDA Guidance to U.S. $1,485 million.
“We are pleased to have concluded this acquisition ahead of the expected timeline,” stated José de Jesús Valdez, Alpek’s CEO. “We are excited to welcome OCTAL’s management team and employees into our family, leveraging their long-standing relationships with customers, their diverse backgrounds, and technical proficiency to drive the Company’s long-term growth.”
Alpek is a leading petrochemical company operating two business segments: “Polyester” (PTA, PET, rPET, and polyester fibers), and “Plastics & Chemicals” (polypropylene, expandable styrenics, caprolactam, and other specialty & industrial chemicals).
Register Now to Attend Gujarat Chem & Petchem Conference 2025 on May 8-9th 2025, at Hyatt Place, Bharuch
Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2025 on June 18-19th 2025, The Leela Mumbai
