ImatosGil launches PET resin in Quebec

The Portuguese investment company Imatos Gil Group has purchased a special resin plant that was discontinued in Canada and plans to convert the plant to pet vs resin.

The plant - which produces polyethylene terephthalate (PTT) in East Montreal, Quebec, pet resin virgin price,was announced to close in March because of global overcapacity and weak demand in the carpet market. The plant was operated by PTT Canada for five years and is a joint venture between Shell Chemicals of Canada and the Government of Quebec.

At present, the purchase price is still being disclosed. At the press conference,pvc resin,ImatosGil said that the new business will be operated by Selenis of Canada.Titanium dioxide is expected that the mass production of PET will begin in the third quarter of 2010, and the restart rate of the companies that are restarting production is expected to reach 60%.

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ImatosGil already owns a minority stake in European polyester producer La Seda de Barcelona and also invests in related PET production in Saudi Arabia and boric acid flake.