Spanish PET maker La Seda de Barcelona SA has grown its European capacity by purchasing the PET, purified terephthalic acid and PET preform operations of Advansa BV.
In addition, Barcelona-based La Seda is negotiating with the Portuguese government to establish a 1.5 billion-pound PTA plant in Sines, Portugal.
Hoofddorp, Netherlands-based Advansa, part of industrial conglomerate Haci Omer Sabanci AS of Istanbul, Turkey, had annual PET resin capacity of around 620 million pounds. Its operations included PET plants in Wilton, England, and Adana, Turkey, with preform production in Turkey and Romania. Advansa is still a leading player in polyester fiber and intermediate products.
The deal values the Advansa operations at 320 million euros ($416.3 million), according to La Seda, which already has PET plants in Spain, Portugal, Italy and Greece.
Advansa was a joint venture between Sabanci and DuPont Co.