Lotte Chemical UK to ship PET out of new plant by end of July

11 July 2014 09:17 Source:ICIS News

LONDON (ICIS)--Lotte Chemical UK (LCUK) is on target to ship polyethylene terephthalate (PET) out of its new unit in Teeside, UK, by the end of July, an LCUK spokesman said on Friday.

“The plant has started up and the plan is to start shipping resin before the end of July,” the spokesman said.

The 200,000 tonne/year plant will add to the existing capacity of 165,000 tonnes/year at the same site. The new plant, known as LC1, was due to start up in the first quarter of 2014.

JBF started producing commercial PET out of the first 216,000 tonne/year line of its new plant in Geel, Belgium, in June, but the impact has yet to be felt in the market, according to sources.

A second 216,000 tonne/year line at the same site was due to start up this month.

Despite new European capacities, the July PET market remains firm as material is well balanced, new production assets are not yet fully operational and there have been recent output problems at existing, domestic units.

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By Caroline Murray