06 March 2009 17:29 [Source: ICIS news]
TORONTO (ICIS news)--Invista has put its idled 195,000 tonne/year polyethylene terephthalate (PET) plant in Millhaven near Kingston, Ontario, up for sale but may find it hard to attract buyer interest in the current market climate, an industry analyst said on Friday.
A spokesperson for the Wichita, Kansas-based fibre major said the plant remained idled but would not confirm that it was for sale.
Invista idled the Millhaven plant in December, citing the economic downturn.
In February, Invista said it would cease production at its PET and dimethyl terephthalate (DMT) complex in ?xml:namespace>
John Cummings, an independent Toronto-based petrochemicals analyst, said Invista would find it hard to sell the Millhaven plant in the current tough market.
The plant’s main feedstock supplier, purified terephthalic acid (PTA) producer Interquisa
One option for Invista could be to find a buyer who would acquire the whole chain, that is, Invista’s PET plant at Millhaven, Interquisa’s PTA plant, and Petro-Canada’s Parachem aromatics plant in
Earlier this week, PTT Poly
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