Spanish conglomerate set to buy two La Seda de Barcelona plants

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: February 11, 2014 11:51 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Materials Suppliers

A Spanish conglomerate with interests in designer jewelry, cosmetics and paperboard packaging is set to acquire two plants from the bankrupt PET packaging group La Seda de Barcelona, local press reports say.

They indicate that Cristian Lay group of Jerez de los Caballeros, Spain, has offered around 15 million euros to buy LSB's 170,000 metric ton per year PET polymer plant in El Prat de Llobregat, near Barcelona, along with its 200,000 metric ton per year feedstock plant in Tarragona.

The sale is subject to approval of the Spanish commercial court overseeing the LSB group's liquidation.

The court in Barcelona authorized the formal process of selling off the Catalan PET group's polymer, chemicals, packaging and recycling operations at the end of January. It was in June last year that LSB filed for voluntary insolvency when it failed to reach agreement on debt restructuring with its creditors.


Comments

Spanish conglomerate set to buy two La Seda de Barcelona plants

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: February 11, 2014 11:51 am ET

Post Your Comments


Back to story


More stories

Image

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

Investor group wants DuPont to split in two

September 18, 2014 7:37 pm ET

Investment firm Trian Fund Management LP is calling for plastics and chemicals giant DuPont Co. to split itself into two firms, one of which would...    More

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

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