31 May 2010 09:09 [Source: ICIS news]
DUBAI (ICIS news)--Taiwan’s Far Eastern Textile (FET) expects to increase its total polyethylene terephthalate (PET) bottle chip production capacity to 1.2m tonnes/year after debottlenecking two of its plants late this year, a company source said on Monday.
The plants in Shanghai, China and Taoyuan in Taiwan would be brought on stream towards the end of November or early December, the source said.
Post-debottlenecking, the plants would each have an annual capacity of 160,000 tonnes, the source said, adding that this would boost the company’s overall PET capacity to 1.2m tonnes/year.
“The focus of the company will still be on the Chinese domestic market as well as the Asian markets, where the PET bottle-grade chip demand grows the fastest,” said the source.
Prices of PET bottle chips dropped $40-50/tonne (€32-41/tonne) to $1,230-1,250/tonne FOB (free on board) Taiwan for the week ended 28 May on weak sentiment amid soft feedstock purified terephthalic acid (PTA) and monoethylene glycol (MEG) values, according to global chemical market intelligence service ICIS pricing.
($1 = €0.81)
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