€300m investment helps parent group LSB return to stability
Artenius PET Packaging Europe (APPE), a division of La Seda de Barcelona (LSB), says it is close to fulfilling its goal of becoming Europe’s leading plastic packaging company. A capital injection of €300m by investors has meant a return to financial stability for LSB and will provide the means to help develop its APPE business.
“The restructuring has given La Seda de Barcelona and APPE a great opportunity to refocus our outlook in several ways,” said APPE manager Martin Hargreaves.
This refocus will include a move away from integrated resin and PET products with APPE placing a greater emphasis on developing its plastic packaging product range, supported by material development with specialist resins and recycled PET.
“Our aim is that APPE will be reputed as a cutting-edge partner, leading the field in delivering new technologies and innovation to the marketplace,” added Hargreaves.
The company also says it is committed to developing new customers in new sectors and that it is continuing to embrace the challenge of sustainability.