La Seda de Barcelona sells PET factory in El Prat, Spain, and ethylene oxide and monoethylene glycol factory in Tarragona, Spain, to jewelry and cosmetics manufacturer Cristian Lay for €16M

, May 13, 2014 () – Jewellery and cosmetics manufacturer Cristian Lay has acquired its compatriot La Seda de Barcelona's factories in El Prat and Tarragona, Spain. According to Chemical Week, the deal was worth EUR 16 M. The El Prat site has 170,000 tonnes/y polyethylene terephthalate capacity and the Tarragona 200,000 tonnes/y ethylene oxide and monoethylene glycol capacity. According to the journal Plasteurope, this acquisition will enable Cristian Lay to enter new markets. The group recently launched a strategy to diversify its operations (in particular to include chemical products). La Seda announced plans for this sale in Jan 2014 when it applied for bankruptcy at the Barcelona commercial court.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Related News:this box contains exclusive content that is accessible only to Industry Intelligence subscribers. Click a link to learn more.