Corrected: Indorama restarts Lithuania PET plant after unplanned outage

09 September 2010 13:44  [Source: ICIS news]

Correction: In the ICIS story headlined “Indorama restarts Lithuania PET plant after unplanned outage” dated 9 September 2010, please read in the last paragraph … Indorama has a 150,000 tonne/year PET plant at Workington, UK, and 200,000 tonne/year plant at Rotterdam, the Netherlands … instead of … 200,000 tonne/year PET plant at Workington, UK, and 150,000 tonne/year plant at Rotterdam…. A corrected story follows.

LONDON (ICIS)--Indorama Ventures has restarted its 200,000 tonne/year polyethylene terephthalate (PET) plant at Klaipeda, Lithuania, following an unexpected shutdown that lasted for four to five days, a company source said on Thursday.

“[Disruption to customers] has been mitigated to a minimum. We have backed it up with supply from other operations,” said the source.

The unit was shut down because of a mechanical failure, which has since been fixed, the source added.

The shutdown came amid proposed rises in European PET prices.

Producers said they aim to increase September prices by up to €50/tonne compared with the previous month’s range, which was assessed by ICIS at €1,050-1,100/tonne ($1,329-1,392/tonne) FD (free delivered) Europe.

The prices targets were attributed to higher feedstock costs, such as monoethylene glycol (MEG) and paraxylene (PX), at a time of limited imports, according to market sources.

Spot PET was reported around €1,100/tonne, up from the mid-€1,000s/tonne seen in August, buyers and sellers agreed.

Indorama has a 200,000 tonne/year PET plant at Workington, UK, and 150,000 tonne/year plant at Rotterdam, the Netherlands.

($1 = €0.79)

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By: Caroline Murray
44208 652 3214



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