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La Seda completes restructuring after EUR 300m capital injection
La Seda de Barcelona is set to make significant investment in its Artenius PET Packaging Europe (APPE) division after completing its financial restructuring.
APPE general manager Martin Hargreaves said the last 20 months had been "extremely challenging" for the group.
After a EUR 300m (£247m) capital injection into La Seda, however, Hargreaves said APPE was "fully open for business". The funds will be used to restructure debt and provide significant investment in APPE.
"We have exciting and positive times ahead and are very much looking forward to further developing our strong, customer-focused business," said Hargreaves.
After the restructuring, the group will move away for the resin and PET product businesses to focus on plastic packaging.
Hargreaves said the firm would continue to work on the development of specialist resins and the use of recycled PET.
"Research and development into new products and technologies will be critical, building upon the work already completed," said Hargreaves.
£250k rPET investment
In February, APPE announced a £250,000 investment in a mixing facility to boost the use of recycled PET in its products.
APPE said it was also examining ways to develop new markets for its rigid plastic packaging. At the Total Show in May, the firm
La Seda
The division was bought by Korean firm KP Corporation in January.
Tel:886-2-28941823 Fax:886-2-28941837 E-mail:viya@packsourcing.com
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