PETpla.net Insider 07+08 / 2010

PET news 6 PET planet insider Vol. 11 No. 07+08/10 www.petpla.net The “new” Artenius PET Packaging Europe (APPE) APPE came under the control of the Spanish PET resin pro- ducer La Seda Barcelona (LSB) in October 2007. Less than one year later APPE was drawn into the turmoil connected with the collapse of LSB, who had pursued an aggres- sive strategy of acquisition, had over-invested and became near insolvent. After many months of negotiations with the syndi- cate investors a restructuring plan was developed which would require a new capital injection together with a revised syndi- cate loan scheme. As a consequence, and with the help of new potential investor’s such as from Portugal (BA Vidro), the capital structure of LSB will be revised. In combination with fresh money, significant asset realignment to future packaging strategy the banks have now signed up to renew their loans. The “new” group’s revised strategic direction is to become an efficient packaging solution company – not just focussed on PET. The strategic initiatives are: Group business to be focussed on preforms, PET and recy-  cled PET only Focus on key, long-term contracts with multinational customers  Exit from remaining business: MEG, bio fuels and non-strate-  gic PET Ultimate disposal of shares in SINES PTA  Cost reduction through downsizing the organisation and  implementation of other efficiency measures: Jean Marc Rostagno, Managing Director of APPE in France, stated that “We are growing the business despite the internal and external crises. The past few months have been a ‘distraction’, however now these will soon be behind us. We can focus once again on being Europe’s leading PET converter.” La Seda turns the corner The AGM of La Seda de Barcelona took place on June 22nd with an exceptional level of attendance by shareholders. The meeting ratified the 2009 accounts, the appointment of new auditors and new directors. Following a recent restructuring programme La Seda is entering a new phase where recycled PET and products with a high added value will be the driving force. The president, José Luis Morlanes, presented the 2009 results and the anticipated results for 2010. Up until the end of May La Seda turned in a positive EBITDA of 18 million Euros and forecasts an EBITDA of 50 to 65 million for the full year. “A company expecting to turn over 1 billion Euros is a company operating normally,” he said. The company has increased PET turnover by 10% and expects to beat previous records of preforms sold. “Success depends on an increase in capital. Without an increase in capital the company has no future,” said Morlanes, urging the shareholders to take up their preferential share options. Automatics hold Open House Merger of Maag Pump Systems and Automatik Plastics Machinery The two private equity organisations, CGS and Clyde Blowers, are amalgamating both their subsidiaries, Automatik Plastik Machinery (formerly Rieter) and Maag Pump Systems to form a single unit. Under the leadership of Ueli Thürig, the new company will be able to offer a range of machinery from screw injection moulding machines to pelletising equipment. This development indicates the rise of a major competitor on a par with Kreyenbourg. Automatik Plastics Machinery is a well-known specialist in pelletizing systems for manufactur- ing plastic pellets whilst Maag Pump Systems are recognized suppliers of gear pumps, filtration systems and screen chang- ers for the plastics industry. In 2008 the companies achieved a joint turnover of €100m. The projection for 2012 is €150m. The focal point will be acquisitions and expansion in China and North America. For the time being the Indian market is not of interest, as Roger Stehr CEO explained to PETplanet Insider. The news of the merger all but stole the thunder from the actual highlight of the Open House, the CC-PET direct crystal- lization process. The plant incorporates underwater pelletizing system Sphero 70 combining pelletizing, drying and crystal- lization in a single process stage. This means considerable savings in time, a reduction in manpower requirements, no need for intermediate storage and savings in investment and operating costs. Bericap’s HexaLite introduced at Naya Waters German closure manufacturer Bericap has introduced its HexaLite product at Naya Waters Canada.The range exists as a lightweight 26mm neck finish, or a lightweight 30mm neck finish. They are all equipped with a slit and folded safety band for efficient TE performance, as well as reliable application on high-speed lines. The company says that the saving made by moving to this product is approxi- mately 33% of the resin in the neck and closure weight. Bericap says that lightweight packaging is a core target for the industry in general, addressing issues of cost reduction and sustainability. The method reduces the use of non-renewable raw materials by using less packaging materials, helping to reduce CO 2 . According to the company, it is these savings that have spurred the conversion to this product, which has already gained a foothold in North America. www.bericap.com Principle of the Sphero 70