Artenius El Prat de Llobregat PET restart expected end-February

15 January 2010 17:01  [Source: ICIS news]

LONDON (ICIS news)--Artenius’s polyethylene terephthalate (PET) plant at El Prat de Llobregat, Spain, could be re-started by the end of February backed by finance from regional government, a source from the Spanish company said on Friday.

There were earlier indications that the 150,000 tonne/year plant might be brought back on-stream in December. It was shut down in September due to poor demand.

“There is a possibility that El Prat could restart at the end of February: the Institut Català de Finances (ICF) has given us a $15m [$22m] loan,” the source said.

The ICF agreed to grant the loan to La Seda de Barcelona, Artenius’s parent company. It could be used for the most pressing needs of the company until a restructuring plan, agreed with shareholders in December, was implemented in the next two-three months, the source added.

The potential restart could follow the month-long outage at one of Equipolymer’s German PET lines in Schkopau which was due to be brought back on-line in mid-February.

($1 = €0.69)

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By: Caroline Murray
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