La Seda de Barcelona and Cepsa Química, S.A formalize an agreement for the acquisition of the PET plant in San Roque

La Seda de Barcelona has reached an agreement with the company Cepsa Química, S.A. for the acquisition of the PET production plant located in San Roque (Cadiz), owned by La Seda. The commitment reached is subject to compliance with certain conditions. The parties have stated that they trust in the collaboration of the employer and employee organizations and the Authorities to conclude the operation successfully, and that the sale process will be completed within a few weeks. With the acquisition of Artenius San Roque, Cepsa Química, S.A. will extend its presence in the polyester value chain. PET is a recyclable polymer for all kinds of applications both in bottles for beverages and in other packaging. The San Roque plant has a production capacity of 175,000 tonnes per year, and is expected to be operational again in early 2011. For La Seda de Barcelona, this agreement is reached in the context of the process of divestment of non-strategic assets established in its Restructuring Plan approved by the Extraordinary General Shareholders’ Meeting held on 17th December 2009.