IMG acquires more investments in La Seda and Selenis

02-Aug-05

The IMG Group has acquired from Inversiones Hemisferio (Grupo Planeta), 3% of the capital of La Seda de Barcelona. This acquisition reinforces IMG's position as the main shareholder of La Seda, and confirms the European strategy of the Group. La Seda produces PET polymer for packaging applications and polyester fibres for textile applications. The IMG Group is the owner of Selenis Group, with PET production and recycling plants in Portugal and Italy. The project to integrate La Seda and Selenis is still "on study". The combined capacities and market positions of both companies will consolidate the Iberian PET market - a major step for the IMG strategy to dispute the leading position in Europe. The IMG Group (Imatosgil) acquired Trevira Fibras in 2002 (then Selenis) and since then invested on production technology, PET recycling and new product development. In 2004, the IMG Group acquired Aussapol (then Selenis Italia). Further investments are planned for this year to improve production capacity. (A Company Press Release)