La Seda De Barcelona plans to close 5 plants and raise funds to concentrate on production of Polyethylene Terephthalate (PET) as per it’s restructuring program.
La Seda will lay off over 300 workerss and sell off Simpe plant in Italy, Portalegre in Portugal, Volos in Greece, TurkPet in Turkey and IQA in Tarragona, Spain and raise between €250-320 mln to meet conditions laid out by its banking syndicate to refinance the company.
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Thursday, July 30, 2009
La Seda De Barcelona to close down 5 petrochemical plants, lay off workers
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