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Chemical Week Magazine :: Basic Chemicals & Plastics

Lotte Chemical’s UK PTA closure reflects Asian imports, falling prices

12:29 PM MST | December 16, 2013 | —Francinia Protti-Alvarez

Lotte Chemical (Seoul) has not announced the exact timing of the closure of the company’s purified terephthalic acid (PTA) plant at Wilton, UK, a move that Lotte confirmed recently (CW, Dec. 2/9, p. 12). Falling PTA prices in Europe and Asia during the past year and growing competition in the European market from Chinese exporters prompted Lotte’s decision to close the plant, the company says. PTA is used in the manufacture of polyethylene terephthalate (PET), which Lotte will continue to produce at Wilton. PTA prices are higher in Europe than other...

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