Tricon acquires Mexico's Polymat, Q-Logistics

: Petrochemicals
23/12/07

Houston-based trading firm Tricon Energy has acquired Mexico-based polymer distributor Polymat and logistics service provider Q-Logistics.

Polymat has three terminal shipment centers in Mexico and more than five warehouses across the region, according to Tricon. Terms of the acquisitions were not provided.

Mexico imported 2.1mn t of polyethylene (PE) and 1mn t of polypropylene (PP) in 2022, up by 23pc and 2pc, respectively, from 2021, according to Global Trade Tracker data.

PE imports to Mexico rose to 1.47mn t from January–September 2023, up by 13,000t against the same period in 2022. PP imports to Mexico rose to 860,000t from January–September, up by around 68,000t from 2022.

The US is the largest polyolefins exporter to Mexico, accounting for 89pc of Mexico's PE imports and 80pc of PP imports.

By Yee Ying Ang

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