Shell Dissolves PTT JV

PTT Poly Canada, a joint venture between Shell Chemicals Canada and Société Générale de Financement du Québec (SGF; Montreal), says it will permanently close its 95,000-m.t./year polytrimethylene terephthalate (PTT) facility at Montreal, due to global overcapacity in the polymer industry and the downturn in the North American carpet industry. The plant closure marks Shell and SGF’s exit from the PTT business. PTT Poly Canada says that the jv partners tried to find a buyer or another alternative for the business but were...

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