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Spain: oil company completes PET production plant acquisition

11/01/2011
Spanish oil and chemicals group Cepsa has completed the acquisition of the Artenius San Roque PET production plant from polymer producer La Seda de Barcelona. The price quoted is EUR 32 million.

The plant at San Roque in the province of Cádiz in the south of Spain has the capacity to produce 175,000 tonnes of the polymer a year. It will now change its name to Cepsa Quimica PET; it will keep a workforce of 40, with other former employees being offered jobs elsewhere in the Cepsa group.

La Seda group suspended production at San Roque in September 2008.

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