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RESTRUCTURING

M&G Chemicals Restructuring

On October 24, 2017, M & G Polymers USA, LLC and on October 30, 2017, M & G USA Corporation and 10 affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Chemtex International Inc. is part of M&G Chemicals Group and is amongst the debtors.
 
The Debtors have obtained a commitment for a $100 million debtor-in-possession facility from an affiliate of Banco Inbursa. This facility will provide the Debtors with the liquidity necessary to pursue a value maximizing transaction.
 
For court filings and other information related to the Chapter 11 proceedings, please visit https://cases.primeclerk.com/mgusa/
FOCUS NEWS
19/04/2017
The world’s largest resin-processing plant is expected to be fully operational by mid-2017, creating up to 250 permanent jobs and manufacturing over a million tons of PET resin a year at Port Corpus Christi.

03/05/2016

Valmet and Biochemtex collaborate in developing technology for lignin derived biochemical .
Valmet and Biochemtex will start to cooperate in the field of conversion of lignin into biochemicals.


20/01/2016
M&G Chemicals plans to increase the capacity of its Corpus Christi facility.
Opening in the second half of 2016