DAK Americas Adds to PET Resin Business

Charlotte, NC, June 17, 2011 -- DAK Americas said it has agreed to buy the polyethylene terephthalate (PET) resin business of Wellman Inc. for $185 million.

The transaction is expected to close in the second half of 2011 pending regulatory approval.

“This will allow DAK to continue to innovate and cost effectively serve ever growing customer needs,” said Tom Sherlock, PET resins business director at DAK Americas, in a news release.

“The addition of this manufacturing facility will allow DAK to broaden its PET Resin product offerings.”

PET, among other uses, is recycled for incorporation into carpet fiber.