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La Seda: Loans guarantee PTA expansion in Sines

PET manufacturer La Seda de Barcelona (Barcelona / Spain; www.laseda.es) has secured a EUR 371m loan for 15 years, which will allow it to build its planned new PTA line in Sines / Portugal. The cornerstone was already laid in the spring of 2008, but the financing underwent a serious delay as a result of the economic turbulences surrounding the Spanish group.

Contrary to previous plans to launch production at the beginning of 2010, start-up has been postponed to mid-year 2011.

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