10th Nov 2017 07:00
Joint News Release
Alpek and ContourGlobal entered a 60-day exclusive period in relation to the acquisition of Alpek's cogeneration power plants in Mexico
Monterrey, Mexico - November 10, 2017 - Alpek, S.A.B. de C.V. ("Alpek") and ContourGlobal entered into a 60-day exclusivity period to conduct confirmatory due diligence and negotiate final agreements in relation to ContourGlobal's potential acquisition of Alpek's cogeneration power plants in Cosoleacaque and Altamira, Mexico.
Alpek and ContourGlobal will disclose the economic terms of the potential transaction upon signing of the final agreements. The closing of this transaction is subject to approval by the appropriate authorities, among other conditions.
About Alpek:
Alpek is a leading petrochemical company operating two business segments: "Polyester" (PTA, PET and polyester fibers), and "Plastics & Chemicals" (polypropylene, expandable polystyrene, caprolactam, and other specialty and industrial chemicals). Alpek is an integrated producer of PTA and PET in North America, the largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in Mexico. Alpek also operates one of the largest polypropylene facilities in North America. In 2016, Alpek reported revenues of U.S. $4.8 billion and EBITDA of U.S. $669 million. The Company operates 23 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile, and employs more than 5,200 people. Alpek is a publicly traded company listed on the Mexican Stock Exchange.
About ContourGlobal:
ContourGlobal is an international power generation company with approximately 4,100 MW in operation in 19 countries across Europe, Latin America and Africa. ContourGlobal operates a portfolio of 69 thermal and renewable power plants utilizing a wide-range of technologies including wind, solar, hydroelectric, natural gas and coal. ContourGlobal is a publicly traded company listed on the London Stock Exchange.
Contacts:
ALPEK
Hernán F. Lozano
Investor Relations Officer
+52 (81) 8748-1146
CONTOURGLOBAL
Alice Heathcote
SVP for Capital Markets & Investor Relations
+1 (646) 386-9901
Related Shares:
GLO.L