In late June La Seda de Barcelona (LSB) announced the sale of its PET plant in Portalegre, Portugal to Control PET SGPS S.A, a plastics and chemicals supplier. The plant, suitable for batch production of up to 70,000 tonnes/yr of bottle-grade PET, had been mothballed since the end of 2010.
Control PET, based in Santo Tirso, Portugal, will pay €5.6 millon for the plant with payment spread through the years 2011 - 2015; the exact value may increase according to the plant's productivity during this period. In May 2011 Control PET, through its subsidiary Selenis Canada, started production of PET at its plant in Montreal.
La Seda determined the Portuguese facility did not have the size or location it desired in its portfolio. The company runs four PET plants in Europe, one each in Turkey, Italy, Spain and the U.K., and also owns the largest European bottle-to-bottle PET recycling facility as well as PET preform and bottle molder APPE...