Spain’s Artenius officially liquidates idled Greek PET plant

29 May 2013 15:27  [Source: ICIS news]

LONDON (ICIS)--Spain's Artenius has announced it will not be restarting its polyethylene terephthalate (PET) plant in Volos, Greece, a company source confirmed on Wednesday.

"The plant has been idle since the end of December," the source said, speaking in Spanish.

The decision to permanently close the 80,000 tonne/year unit known as Artenius Hellas was partly attributed to poor demand in the local area, La Seda de Barcelona announced in an email dated 28 May 2013.

La Seda de Barcelona – Artenius's parent company – is renegotiating its debts at a challenging time for PET producers, many of which have been forced to operate at unsustainable margins.

Artenius operates a 140,000 tonne/year unit at Adana in Turkey and a 170,000 tonne/year site at El Prat de Llobregat, Spain.

The company also has a 200,000 tonne/year plant in San Giorgio di Nogaro in Italy, which is focused on technical polymer production.

Artenius has also nearly completed a new 150,000 tonne/year PET Simpe plant at Acerra, Italy,  a second source said on 23 May. There have been no dates given for commercial production.

($1 = €0.78)


By: Caroline Murray
44208 652 3214



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