La Seda de Barcelona Reduces Stake in Artenius Sines; PTA Plant Delayed

La Seda de Barcelona, a leading producer of polyethylene terephthalate (PET) resin and currently undergoing a major restructuring process, is reducing its stake in a previously announced purified terephthalic acid (PTA) plant at Sines, Portugal. The company has already divested several of its upstream operations to concentrate on the PET industry. La Seda is reducing its stake in Artenius Sines, a company building a previously announced 700,000 m.t./year PTA plant at Sines, Portugal, to 41% by divesting the rest to three other shareholders. The move will inject...

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