Spain's La Seda de Barcelona to sell assets, retains APPE

27 September 2013 10:48  [Source: ICIS news]

LONDON (ICIS)--Spain's La Seda de Barcelona (LSB) is planning to sell its Artenius polyethylene terephthalate (PET) assets in Spain, Turkey and Italy, as well as its upstream ethylene oxide (EO) and ethylene glycol (EG) producer Industrias Quimicas Asociadas (IQA), a company source confirmed on Friday.

Earlier this month, Polisan Holding agreed to purchase the Artenius's PET plant in Volos, Greece, according to a second company source.

Artenius's Hellas in Volos, Greece and Artenius Italy in San Giorgio di Nogaro, have been idled since December and July respectively.

Artenius El Prat de Llobregat in Spain, which has capacity to produce 170,000 tonnes/year, and the 140,000 tonne/year Turkpet in Adana, Turkey, continue to operate.

The 100,000 tonne/year EG and 135,000 tonne/year EO IQA plants in Spain are also operational, the first source added.

Successful preform manufacturer APPE, which comes under the LSB umbrella, is not up for sale.

LSB has been in administration since June.

($1 = €0.74)

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By: Caroline Murray
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