| Corpus Christi lands new manufacturing plant |
HOUSTON, July 11, 2011 /PRNewswire
M&G Group, the largest producer of Polyethylene terephthalate (PET),a safe plastic used for beverage containers in the Americas, has selected Corpus Christi, Texas, as the location for construction of its previously announced one million tons per year PET plant (2.2 billion pounds) and accompanying 1.2 million tons per year (2.6 billion pounds) PTA plant.
The new plants will generate approximately 250 new jobs. An additional 700 indirect positions are anticipated and as many as 3,000 jobs likely will be created during construction.
Corpus Christi, Texas, is located 200 miles southwest of Houston, Texas, and 145 miles east of Laredo, Texas. It is strategically located on the Gulf of Mexico with a metropolitan population over 400,000. The Port of Corpus Christi is the sixth largest port in the United States, in terms of tonnage, and will soon expand significantly as a major trade gateway for Mexico and Latin America with development of the La Quinta Container Terminal.
"Corpus Christi is an excellent strategic home for what will be M&G's largest-ever investment. It has exceptional highway, deep-water and rail access, including three Class 1 railroads," said Marco Ghisolfi, CEO of M&G's Polymers Business Unit.
"I'm pleased M&G Group has chosen Corpus Christi as the location of its new North American plant, creating hundreds of jobs for Texans and further strengthening our state economy, and wish them continued success at this new facility," said Governor Rick Perry of Texas. "This announcement is great news for South Texas and for the Lone Star State as we continue to attract companies from around the world to create jobs in Texas thanks to our low taxes, reasonable and predictable regulatory climate, fair legal system and skilled workforce."
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