La Seda Restructures And Seeks A Partner

Spanish plastics maker La Seda de Barcelona has completed a financial restructuring and is now seeking a partner for its business in polyethylene terephthalate (PET) and its raw materials. La Seda ran into financial difficulties after a rapid expansion period in the late 2000s. The company now says it will focus on its plastics packaging business, which produces plastic preforms and containers for food, personal care, and household applications. La Seda says it needs a PET partner to help lower costs in the business. It also wants help building a 400,000-metric-ton-per-year PET plant that would be integrated with a recently opened terephthalic acid facility in Sines, Portugal.