Home / Knowledge / News / Textiles / Lotte Pakistan plans PTA plant upgrade to cut costs
Lotte Pakistan plans PTA plant upgrade to cut costs
29
Oct '12
Lotte Pakistan PTA Ltd. (LOTPTA), a producer of pure terephthalic acid (PTA), is upgrading its plant to trim costs.
 
LOTPTA Chief Executive Officer Asif Saad said the company launched commercial operations of a US$ 50 million power plant in July this year, and it is now planning to upgrade its machinery, Bloomberg reported.
 
Following modernization, the power plant is would reduce the company’s energy costs to half, Mr. Asif said.
 
Consolidated net earnings of LOTPTA, a subsidiary of South Korea based Lotte Group, declined to Pk Rs. 47.4 million or US$ 495,000 in third quarter of the current year, registering a year-on-year fall of 95 percent.
 
For the nine months ended September 30, 2012, the company registered a net loss of Rs. 247 million, compared with Rs. 4.6 billion profit registered during the same period last year.
 
Mr. Saad said 2012 has not proved to be a good year for the company, but one has to accept that PTA is a cyclical commodity business and they are currently passing through a down cycle.
 
PTA produced by the LOTPTA is used to produce polyester staple fibre, which finds utility in production of clothes.
 

Fibre2fashion News Desk - India


Must ReadView All

Turkish-Algerian JV to set up textile unit in Relizane

Textiles | On 17th Jan 2018

Turkish-Algerian JV to set up textile unit in Relizane

Construction of one of Africa's largest textile production...

Courtesy: Indorama Ventures

Textiles | On 17th Jan 2018

IVL, Huvis to enter JV for Low Melting Fibre plant in US

Indorama Ventures Limited (IVL), a global chemical producer, and...

Future Group to set up garment manufacturing in Bengal

Apparel/Garments | On 17th Jan 2018

Future Group to set up garment manufacturing in Bengal

Kishore Biyani-led Future Group is going to set up a garment...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search