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

VisiPak adds to customer mix, product offerings with Tulox acquisition

March 5, 2015 2:19 pm ET

VisiPak has acquired Tulox Plastics Corp., a maker of clear plastic packaging.    More

Image

LiquiForm looks to fundamentally change blow molding process for bottles

March 5, 2015 12:13 pm ET

Those in the know are lifting the veil, just a bit, on fledgling technology being developed that would fundamentally change the way plastic bottles...    More

Image

Southeastern Container closing plant as Coke shifts bottle production

March 5, 2015 11:07 am ET

About 50 people will lose their jobs at a PET bottle making facility in Effingham, Ill., as container manufacturing shifts to Coca-Cola bottling...    More

Image

PET makes it possible to have your beer and be sustainable too

March 5, 2015 10:45 am ET

PET could replace stainless steel beer kegs in a material swap product developers say will be more environmentally friendly and cost effective for...    More

Image

Shepherd named Thermoformer of the Year

March 4, 2015 11:32 am ET

Barry Shepherd, of Shepherd Thermoforming and Packaging Inc., is the newest Thermoformer of the Year.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

More Events