31 October 2012 11:21 [Source: ICIS news]
LONDON (ICIS)--Spain-based Novapet has delayed the restart of its largest polyethylene terephthalate (PET) plant in Barbastro, by 10-11 days because of technical reasons, a company source said on Wednesday.
"We had thought that it would restart on 10 November but it now most likely be around 20 November," the source said, speaking in Spanish.
The process of shutting down the 130,000 tonne/year unit began on 27 September.
The PET market is slow, particularly in the bottling sector. This, coupled with continued strength upstream, has resulted in producers significantly reducing operating rates across Europe, according to industry players.
Competitively priced imports are coming in and putting downward pressure on domestic prices, making it difficult for sellers to pass on any increases in production costs.
Novapet also operates a 100,000 tonne/year PET plant which was shut down for maintenance in May this year, and a 30,000 tonne/year specialty grade PET line. Both plants are also in Barbastro.
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