South American plastics processor Iberoamericana de Plasticos SAC plans to move its PET sheet operations to a larger site by the end of the year to meet export market growth.
The firm's PET sheet business launched last year will move from a pilot site in Lima to the company's headquarters plant in the same city, IP spokeswoman Luciana Victorio said in an Oct. 9 telephone interview. New extrusion equipment also will be installed at the main plant.
IP's PET sheet products are made from recycled and virgin resin and are used in thermoformed clamshells, cups, blister packs and similar products. The firm also sells hot-washed, recycled PET flake.
About 75 percent of IP's PET-related sales come from the export market, primarily to North America and China, Victorio said.
The company is one of only a few South American processors working with recycled PET material, according to Victorio. The firm does its own collection and sourcing of recycled products, primarily PET bottles.
Other products made by IP include injection molded closures and containers, pallets and woven polypropylene bags. The firm was founded in 2004 and had annual sales of $30 million last year. The company expects 2009 sales to exceed that number, primarily because of strong export sales.
Copyright 2009 Crain Communications Inc. All Rights Reserved.