Advansa strikes deal with La Seda de Barcelona

Advansa, the polyester producer, has agreed to sell its PET, PTA and perform businesses currently operating in the UK, Turkey and Romania to La Seda de Barcelona (LSB).

The purchase of Advansa’s PET plants in the UK and Turkey, which have a combined capacity of 280,000 tonnes, will result in LSB increasing its total PET capacity to around 800,000 tonnes, making it the largest producer in the European region, said a joint statement issued today.

 The deal will also enhance “LSB’s backward integration” with the addition of 670,000 tonnes of PTA in Wilton, UK. The statement said LSB was committed to “maintaining the strong external PTA sales positions, which have been developed by Advansa”.

The deal is subject to regulatory approvals and is expected to be completed by 1 October 2006.