Invista permanently shuts Canadian PET plant

Invista, an integrated producer of polymers and fibers, has reportedly closed its PET plant in Millhaven (Ontario, Canada) permanently following a four month period of stalled production. The plant was shut down due to drastic decline in demand leading to PET glut in the North American which will impact 100 employees. The plant used to supply the feedstock to bottled water packagers and aerated beverage market in the region. The company also considered to sell-off the plant albeit there were no takers owing to the plummeting demand for PET.
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