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

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index