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,
Now, plastics supplier La Seda has begun commissioning a purified terephthalic acid (PTA) plant in Sines, Portugal. PTA is a raw material used to produce PET. Production at the new plant is expected to commence late this year. LSB will be the only European supplier fully integrated from PTA to PET to preform molding and bottle blowmolding.
La Seda says it is investing about €500 million in the new PTA plant in Sines, which will have a capacity of 700,000 tons per year. La Seda expects to export about 95% of the site's production volume.