Polisan Holding to restart the PET polymer plant of Spanish group La Seda de Barcelona in Greece

26-Dec-13

A Turkish petrochemicals group, Polisan Holding plans to restart the former PET polymer plant of Spanish group La Seda de Barcelona in Volos, Greece by the end of this year, as per European Plastics News. The 80,000 tpa Artenius Hellas facility, which was mothballed by the insolvent Barcelona-based group early this year, was bought in September by Polisan of Ankara for €8.6 mln. The Greek plant, which employed almost 100, has been renamed Polisan Hellas. Polisan has been negotiating with potential PET customers for the PET and bottle preforms unit and local news reports the group’s CEO, Necmettin Bitlis, is confident that the market will accept more than 90% of the Volos output. The group is targeting sales in Greece, the Balkans and Turkey. The former La Seda plant suffered from a cutback in production capacity and dwindling local demand. The Spanish group has been seeking buyers for its PET operations and originally looked at possibly closing down the Greek unit altogether if it was unable to sell it.