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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

La Seda Increases Share Capital to Finance Growth

10:16 AM MDT | June 22, 2012 | —Natasha Alperowicz

Moreira da Silva: Capital injection will boost growth. La Seda de Barcelona (El Prat de Llobregat, Spain), one of Europe’s largest polyethylene terephthalate (PET) bottle resin and packaging firms, says it is increasing its share capital by issuing 40 million new ordinary shares with a subscription price of €1/share. The move follows shareholders’ approval in early May. The company aims to use the additional funds for the development of its plastics packaging division (APPE); a fixed-cost reduction program; and to improve its financial structure...

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