FRANKFURT, GERMANY - European polyester fibers producer Trevira GmbH announced plans to sell its only bottle-grade PET resin plant, Trevira Fibras SA in Portalegre, Portugal.
Trevira said the 66 million-pound-per-year facility does not fit into its core specialty fiber business.
The small plant doubled its sales last year to 47 million euros ($41 million) but does not have sufficient scale to compete with global PET players, according to the Frankfurt-based company.
Trevira is a former division of Hoechst AG, which in 1998 sold its polyester resin and fibers businesses outside Europe to a consortium comprising Koch Industries Inc. of Wichita, Kan., and Mexican investment company Grupo Xtra, headquartered in Mexico City.
The result was KoSa of Houston, which is now a world leader in the supply of PET packaging resins.