| 2008/6/23 - Charlotte, NC
—Despite ongoing efforts to employ cost-saving initiatives and identify and reduce unnecessary energy expenses, DAK Americas LLC, producer of PET Resin, Polyester Staple Fibers, and raw materials for polyester based products, notified customers today that it would be taking “unprecedented” steps to ensure the viability of its future. DAK sites unparalleled energy and major raw material costs, as well as the impact on conversion and distribution costs as the major impetus behind these actions.
“DAK Americas is at a loss to project the future evolution of energy costs and its subsequent impact on materials and services,” said Hector Camberos, President and CEO, DAK Americas. “Up until this point, our industry has acted on the assumption that these escalating costs were temporary and reducing margins would overcome the immediate impact. It is now clear that we have to take decisive action to address these escalations as they show no signs of stopping. ”
DAK Americas has already reached out to its customers to assure them that the company will continue to:
Prioritize and implement innovative cost-saving solutions that reduce energy usage.
Seek further opportunities to create value for DAK and its customers through internal growth, acquisitions and innovation in the polyester value chain.
DAK Sales Representatives will also be working with customers to communicate more specifics on their actions.
DAK’s approach to the situation demonstrates both a renewed and strengthened commitment to the polyester value chain and supplying the highest quality, innovative sustainable products and services.
DAK Americas offers a wide range of innovative products including its Laser+ family of PET Resins as well as its Polyester Staple Fibers brand SteriPur AM, Dacron, Delcron Hydrotec Fiber, and HydroPur Fiber.
CONTACT: Joanna Ford or Zoe Klein
Star Public Relations
215-875-4300
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About DAK Americas LLC and Alfa S.A.B. de C.V.
DAK Americas (www.dakamericas.com), headquartered in Charlotte, NC., is wholly owned by Alfa S.A.B. de C.V.(www.alfa.com.mx),Monterrey Mexico. DAK Americas has five manufacturing operations across the Americas, three in the Southeast United States, and additional facilities in Mexico and Argentina. DAK Americas employs over 1,100 people. DAK Americas is comprised of three business units: Polyethylene Terephthalate Resins (PET), Polyesters Staple Fibers ( PSF) and Monomers/ ingredients (TPA).
Alfa S.A.B. de C.V. is a Mexican company consisting of four business groups: Alpek (petrochemicals), Nemak (high-tech aluminum auto parts), Sigma (refrigerated food), and Alestra (telecommunications). Alfa is one of the leading producers of cylinder heads and blocks for automotive engines in the world. It is the second largest worldwide producer PTA one of the main ingredients in the production of polyester based resins and fibers. In Mexico, Alfa is the leader of the processed meats market, telecommunications and in the production of petrochemicals. Currently, Alfa has 71 manufacturing operations in 16 countries and employs more than 50,000 people. Alfa shares are quoted on the Mexican Stock Exchange and on Latibex, the market for Latin American stocks in the Madrid Stock Exchange.
CONTACT:
Ricky Lane
Corporate Communications Manager
DAK Americas, LLC
1-877-432-2766
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