MRC -- Plastiverd, a Spanish company specializing in polyethylene terephthalate (PET) production, has articulated plans to maintain a stable production level at its PET plant located in El Prat de Llobregat, situated in the province of Barcelona, Spain, starting from the end of February, said Chemanalyst.
The company aims to sustain this production stability for commercial reasons, although the exact duration of this production load remains undisclosed. The El Prat de Llobregat plant boasts a production capacity of 210 thousand tons of PET per year.
Earlier reports indicated that Plastiverd had recommenced production in January at its PET plant in El Prat de Llobregat. The restart followed challenges related to workforce shortages prompted by the impact of the coronavirus pandemic. Importantly, January's production revival transpired without any technical hindrances, and the workforce seamlessly resumed their duties.
PlastiVerd became part of the Cristian Lay Group conglomerate in April 2014, following its acquisition from La Seda de Barcelona. The acquisition, valued at around EUR 15 million, encompassed not only the PET plant but also included a facility for the production of ethylene oxide and ethylene glycol, boasting a capacity of approximately 200 thousand tons per year. La Seda de Barcelona, the previous owner, operates PET plants across Spain, Turkey, and Italy, along with a recycling facility in Italy. Additionally, LSB holds a significant stake in the Portuguese company Artlant PTA.
The decision by Plastiverd to maintain stable PET production aligns with the company's strategic commercial objectives. While the specific duration of this production continuity remains unspecified, the commitment to stability underscores Plastiverd's dedication to sustaining a consistent output in its PET operations.
It is noteworthy that the resurgence of production in January was prompted by the successful resolution of workforce-related challenges, mitigating the impact of the ongoing pandemic on operational efficiency. The absence of technical impediments during this period underscores the resilience and operational preparedness of Plastiverd's PET plant.
As a subsidiary within the Cristian Lay Group conglomerate, Plastiverd's endeavors in PET production contribute to the conglomerate's broader portfolio of operations. The acquisition of PlastiVerd in 2014 expanded the conglomerate's footprint in the petrochemical sector, encompassing not only PET production but also ethylene oxide and ethylene glycol manufacturing.
The broader context of La Seda de Barcelona's operations, which included PET plants across multiple countries and a recycling facility, signifies the diversified interests within the petrochemical industry. The conglomerate's stake in the Portuguese company Artlant PTA further exemplifies its strategic positioning within the European petrochemical landscape.
We remind, in the first quarter, Swiss company Equipolymers is planning to maximize the utilization of its polyethylene terephthalate (PET) plant in Sckhopau, Germany, aiming to achieve 100% capacity. Market sources have indicated that both production lines, with a combined capacity of 335 thousand tons of PET per year, are currently operational and functioning near full capacity.