Spain's La Seda delays expansion plan

Published: July 13, 2012 6:00 am ET

Related to this story

Topics Packaging, Blow Molding

BARCELONA, SPAIN (July 13, 11 a.m. ET) — La Seda de Barcelona has halted a plan to expand its plastics packaging division (APPE) after falling short in an attempt to raise capital for the project.

The Barcelona-based blamed tough financial conditions in Europe, and said it will look for alternative ways to finance the plan.

The company was seeking capital to help APPE expand into new markets and different materials.

La Seda announced July 12 that it had aimed to raise 40 million euros ($48.7 million) to finance the project, but to date it had only raised about 12.3 million euros ($15 million).

“The board of directors regrets that it has not been possible to complete the operation, which has been affected by current economic conditions in Europe,” the company said.


Comments

Spain's La Seda delays expansion plan

Published: July 13, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

PET film maker Evertis expanding production in Mexico, Brazil, Portugal

November 20, 2014 2:52 pm ET

Evertis, a PET film maker, is expanding production at plants in Mexico, Brazil and Portugal, the company said.    More

Image

Coveris changes culture, eyes IPO

November 20, 2014 1:40 pm ET

CEO Gary Masse has a simple message, and some new math, for everyone at Coveris Holdings Corp. Get on board or get out of the way.    More

Image

Cy Plastics invests in machinery, space

November 19, 2014 2:17 pm ET

Seeking a more efficient configuration, custom molder Cy Plastics Inc. invested over $500,000 in the past year, adding more machinery including a 350-...    More

Russian industrial film maker converting to food packaging film

November 19, 2014 9:46 am ET

Tasma, an 80-year-old Russian producer of technical industrial films which supported the USSR war effort during World War II, has assumed a new role a...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events