China Resources shuts two PET bottle chip lines on poor margins

17 August 2012 08:11  [Source: ICIS news]

SINGAPORE (ICIS)--China Resources (Holdings) has shut down its two polyethylene terephthalate (PET) bottle chip lines with total capacity of 400,000 tonnes/year at Changzhou in Jiangsu on Friday because of squeezed margins, a company source said.

“We had to shut down the lines to avoid further loss,” the source added “the lines will be restarted when the market picks up.”

The company has two other lines at Changzhou, with a combined capacity of 600,000 tonnes/year running at 90% operating rate, the source said.

In addition, the company also has a 300,000 tonnes/year PET bottle line running at 80% capacity at Zhuhai in Guangdong according to the company source.

By: Sunny Chen

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