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Markets :: Plastics :: PET

PET producer La Seda files for liquidation

7:06 AM MST | January 6, 2014 | Francinia Protti-Alvarez

Polyethylene terephthalate (PET) producer La Seda de Barcelona (El Prat de Llobregat, Spain) has filed for liquidation pursuant to a resolution adopted by its board, the company has announced. The decision was adopted as "the best way to protect the value of La Seda's assets. [The move was done] in order to facilitate an orderly sales process and ensure business continuity given the existence of several expressions of interest and offers received," La Seda says. La Seda's assets are valued at €624.3 million ($848.2 million) against insolvency...

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