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Birmingham Post
Birmingham Post
Business
Tom Keighley

Alpek Polyester completes £494m acquisition of Oman PET manufacturer OCTAL

Oman

The parent company of a Teesside chemicals firm has finalised a £494m ($620m) takeover of an Oman-based manufacturer of polyester sheets.

Alpek Polyester, which acquired the former Lotte Chemicals operation in 2019, has completed the purchase of OCTAL after getting regulatory approval.

OCTAL is a major global producer of PET sheet used in packaging and owns the proprietary direct-to-sheet (DPET) technology, which eliminates several energy-intensive conversion steps, resulting in a lowest cost production method for PET sheet.

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