01 November 2013 07:57 [Source: ICIS news]
SINGAPORE (ICIS)--China Resources Packaging Materials Co Ltd shut two of the four bottle-grade chips lines at its 1m tonne/year polyethylene terephthalate (PET) plant in Changzhou on Friday for turnaround, a company source said.
The two 300,000 tonne/year lines are expected to be restarted in January next year, the source said.
Oversupply in China and a continuous decline in PET bottle-chips prices prompted the company to shut the two lines ahead of their scheduled turnaround next year, said the source.
The company’s two other bottle-grade chip lines, each with a 200,000 tonne/year capacity, will continue to operate during the shutdown of the bigger lines, the source said.
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