Financial Restructuring of La Seda De Barcelona Group secures stable and confident Platform for Artenius PET Packaging Europe (APPE)
Following the conclusion of the financial restructuring of La Seda de Barcelona Group (LSB), its packaging division Artenius PET Packaging Europe (APPE) says it is on course to fulfil its strategic aim of…
Following the conclusion of the financial restructuring of La Seda de Barcelona Group (LSB), its packaging division Artenius PET Packaging Europe (APPE) says it is on course to fulfil its strategic aim of becoming the premier plastic packaging company in Europe.
New investors have now injected €300 million of capital into LSB, heralding a much needed return to financial stability. In addition to restructuring the Group’s debt, the new capital will provide significant investment to help develop the APPE business.
In particular the Group will now be based on a new model, moving away from the previous strategy of vertically integrated resin and PET product businesses. Instead, focus will be placed on developing the plastic packaging product range, supported by material development with specialist resins and recycled PET.
Additionally, as customers and markets change, APPE recognises that the business must be even more flexible, nimble and pioneering in approaches to both new products and ways of doing business, and has pledged to meet that challenge head on. The company has already committed to developing new customers in new sectors, and this will be further supported and strengthened to enable it to target additional areas of the packaging market.
APPE will also continue to embrace the challenge of sustainability and environmental responsibility, encompassing all aspects from raw materials right through the production process to the finished products.