The Neo Group (Vilnius / Lithuania; www.neogroup.eu) has announced the completion of another PET line. The company reportedly invested around EUR 50m for the project. The Neo Group's third line is in Klaipėda / Lithuania, like the two existing ones, and has a capacity of around 155,000 t/y. According to Plasteurope.com's Polyglobe database (www.polyglobe.net), the total capacity of the group is increasing to more than 460,000 t/y.

As a result, the Neo Group is rising to become Europe's second largest PET manufacturer, although far behind leading global market leader Indorama. In future, the company expects to generate sales of over EUR 500m, of which EUR 400m would come from exports.

Neo belongs to Retal Industries (Limassol / Cyprus), which is owned by Anatoliy Martynov. The PET packaging and preform manufacturer Retal (Mytishchi / Russia; www.retalgroup.com), which has branches in Lithuania and the Baltic region, is also part of the group – see Plasteurope.com of 27.07.2018. The Retal group employs more than 600 people, including 400 in Klaipėda, of which more than 200 work for the Neo Group.