Spain’s Novapet delays PET outage because of strong demand

26 May 2010 17:49  [Source: ICIS news]

LONDON (ICIS news)--Spain’s Novapet has decided to yet again postpone maintenance of its largest polyethylene terephthalate (PET) line because of strong demand for PET in Europe, a company source said on Wednesday.

Novapet will close a 130,000 tonne/year PET line in Barbastro, Huesca, for 5 weeks of maintenance on 23 June instead of at the beginning of June because of a shortage of product, according to the source.

“It would be irresponsible to leave customers in the lurch and they have no alternative,” the source said, speaking in Spanish.

Indorama was also planning to take down its 200,000 tonne/year Dutch plant in Rotterdam for nine or 10 days of maintenance from mid-June onwards.

Novapet’s PET line in Barbastro, Huesca, was originally due to be shut down in April, but this was postponed to early June because the market was seen to be short then too.

Artenius’ 140,000 tonne/year plant in El Prat de Llobregat, also in Spain, had been shut down from September until 19/20 April.

In addition, Lotte Chemical UK’s Wilton site had been down from the first quarter of 2009 until April 2010.

A combination of unfavourable exchange rates resulting in fewer competitive imports and peak demand for PET during the summer bottling season had created a tight market in May, buyers and sellers said.

In addition to the PET line scheduled for closure, Novapet has a further 130,000 tonnes/year capacity at Huesca, 30,000 tonnes/year of which is dedicated to speciality products, according to the company source.

($1 = €0.81)

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By: Caroline Murray
44208 652 3214



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