Home / Knowledge / News / Textiles / CEPSA buys into Artenius San Roque
CEPSA buys into Artenius San Roque
11
Jan '11
CEPSA Quimica, S.A., a wholly-owned subsidiary of Compania Espanola de Petroleos, S.A. (CEPSA), and LA SEDA DE BARCELONA, S.A. ("LSB") announced that they have formalized the purchase-sale transaction for Artenius San Roque, SAU. ("ASR"). As a result of this operation, the CEPSA Group, through its affiliate CEPSA Quimica, S.A., has acquired 100% of the share capital of ASR, which hereinafter will be called CQ PET, SA (CEPSA Quimica PET), with a workforce of 40 employees. Another 19 from ASR will directly join various departments of CEPSA Quimica, S.A.

The total value of the deal, approximately €32 million, includes both the price paid by CEPSA Qufmica to LSB for 100% of ASR's share capital as well as the value of the company's net debt at the closing date of the transaction.

CEPSA Quimica Guadarranque (San Roque-Cadiz) currently runs two production lines for manufacturing PTA (purified terephthalic acid) and PIA (purified isophthalic acid). The acquisition of Artenius San Roque will enable CEPSA to expand its PET (polyethylene terephthalate) production activity, broadening its presence in the petrochemical value chain.

This takeover deal will deliver key synergies, not only based on the captive consumption of PTA as the feedstock for producing PET, but also from cost optimization in procurements and logistics as a result of the centralized management of supply chain activities, in addition to considerable fixed cost savings.

Work to start up the PET plant, which has been closed down since September 2008 and whose production capacity amounts to 175,000 tons per year, will begin forthwith and the unit is slated to come back on-line in the first quarter of 2011. CEPSA Quimica's takeover of ASR will ensure the continuity of the plant's operations and a significant number of direct and indirect jobs.

CEPSA Quimica, S.A.

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X