PET production at Artenius Hellas (Volos /Greece) will soon be history. Parent company La Seda (Barcelona /Spain; www.laseda.es) announced that is has begun taking the necessary official measures to close down production. The company issued a statement saying that the closure was paramount due to the loss of performance at the Greek production unit as a result of reduced production capacity and decrease in local demand.

The news is final confirmation of what had been rumoured within the industry: Volos was on life support with work being ramped down in preparation for mothballing – seePIEweb from 03.05.2013. According to PIE's database Polyglobe (www.polyglobe.net) the plant of former Volos PET Industry has a capacity 80,000 t/yj.

At the corporate level, La Seda continues to be mired in assorted problems with no end in sight as to how they will be resolved. Above all, the company is struggling to keep its head above deep financial waters – see Plasteurope.com from 08.05.2013.