05 November 2009 12:58 [Source: ICIS news]
LONDON (ICIS news)--Artenius’ polyethylene terephthalate (PET) plant at El Prat de Llobregat, Spain, could be restarted by the end of the year to accommodate demand, a source from the Spanish company said on Thursday.
“There is a possibility that El Prat could restart by the end of December. It seems the company is financially much healthier...We are sold out and need to prepare for the new season ahead,” the source said.
The 150,000 tonne/year unit was shut down in September because of poor demand.
There was still no final agreement for the future of Artenius’ parent company, La Seda de Barcelona.
In October, La Seda was given a further four-week reprieve from banks as it tried to resolve issues with its finances.
The company’s facility at ?xml:namespace>
La Seda has put up for sale four of the company’s other plants, which are located in
The European PET market was looking firm in November, despite this being the end of the bottling season, sources agreed.
“Now, in the off season, all our customers are purchasing our material,” a reseller noted.
Producers were seeking increases of up to €50/tonne ($75/tonne) this month because of higher feedstock costs and more expensive imports, they said.
October prices for European material spread from €850-920/tonne FD (free delivered)
($1 = €0.67)
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