The M&G Chemicals plant at Corpus Christi will be fully operetional by mid-2017

The M&G Chemicals resin-processing plant at Corpus Christi (Texas) 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.

“In December the general contractor for the project, Chemtex, hired Bay, to continue work after IMS, the previous contractor, walked off the job delaying the project”, said Mauro Fenoglio, the global manufacturing director for M&G Chemicals. "Last December, IMS declared it was stopping work and walking off the job with its subcontractors unless they were paid over 50 million dollars in two days. IMS did not provide any proper justification or explanatory documentation to support this extraordinary demand, which was well outside all contracts. Chemtex is now focusing on catching up from the delays and harm caused by IMS walking off the job and re-doing work that IMS improperly completed".

M&G is continuing to sort through the various claims of IMS subcontractors that were not paid even though IMS had routinely claimed it had paid its subcontractors. M&G is working to resolve these issues which will not affect the future manufacturing at the plant.