BAY ST. LOUIS, Miss. (AP) -- DAK Americas LLC has agreed to buy Wellman Inc.'s PET plastics plant in Bay St. Louis for $185 million.
DAK Americas is a unit of Mexican conglomerate Alfa SAB. The company announced the deal Thursday, according to the Mississippi Press. The purchase amount includes a cash payment and assumption of some liabilities.
The 165-worker plant in the Port Bienville Industrial Park has the capacity to make 430,000 tons a year of PET, a plastic resin used to make drink bottles and other items.
The deal is expected to close in the second half of 2011, pending regulatory approval, said DAK, based in Charlotte, N.C.
