Buyer shows interest in Spanish recycling plant

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: January 30, 2014 9:16 am ET
Updated: January 30, 2014 9:18 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Sustainability, Europe, Recycling, Materials Suppliers

A Catalan waste management company is reported to be willing to rescue the production plant of PET recycler Artenius Green at Balaguer, Spain as part of the liquidation process of insolvent PET group La Seda de Barcelona.

Recuperacions Marcel Navarro i Fills, located in Llagostera near Girona, Spain, has agreed to acquire the operation through the enterprise Marketing Mix 2011, but the buyer will not be liable for outstanding Artenius Green tax, labor and other debts, according to LSB.

The PET bottle recycling facility, capable of processing 18,800 metric tons per year, was due to close down with the loss of up to 37 jobs as subsidiary businesses of Barcelona-based LSB are sold off to pay the group's debts.

But now the buyer has agreed to resume and boost production at the plant, retaining a workforce of 23, according to Catalan media reports. Earlier reports estimated the likely value of the Artenius Green assets at around 150,000 euros ($203,700).

Recycled PET from Artenius Green, which has not been running at capacity output, is used in different sectors for strapping or polyester fibers used in furniture, cars, clothing and textiles. Other applications include laminated films for thermoforming packaging.


Comments

Buyer shows interest in Spanish recycling plant

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: January 30, 2014 9:16 am ET
Updated: January 30, 2014 9:18 am ET

Post Your Comments


Back to story


More stories

Image

Minnesota receives grant to help develop new bioplastics

September 17, 2014 4:08 pm ET

The University of Minnesota has received a $20 million grant to fund the development of new types of bioplastics.    More

Badger buys competitor Joseph Homa

September 17, 2014 4:04 pm ET

Badger Plug Co. has extended its protective plugs customer base by acquiring and closing a rival, Joseph Homa Consultants Inc. of Montreal.    More

Image

China's Polymax Elastomer launches U.S. production in Illinois

September 17, 2014 3:35 pm ET

Chinese materials maker Polymax Elastomer Technology Co. Ltd. has opened a North American production site and headquarters in Waukegan, Ill.    More

Image

PolyOne helps nonprofit get water purification to more places in need

September 17, 2014 1:59 pm ET

Resin giant PolyOne Corp. is teaming up with WaterStep, a non-profit water purification agency, to help the group assist a greater number of disaster ...    More

Image

ACI expanding in South Carolina

September 17, 2014 12:56 pm ET

Reprocessor and recycler ACI Plastics Inc. is expanding in South Carolina.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

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

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

More Events