Egypt’s EIPET confirms stopping exports to Europe
“We have had to face a lot of financial issues during this past year and we are stopping our PET plant since we need to focus on repairing our finances. During our stoppage, we will continue to deliver to the local market normally,” commented the source.
EIPET came online at the beginning of January 2014 and has two lines, each of which has 210,000 tons/year of capacity. The company had reported in early February to ChemOrbis that they were sold out until April for their local deliveries. They were focusing on delivering their previously placed orders and they were not taking any fresh orders. However, in early April, the producer had stated that they started to deliver to the local market again. Yet, players have not reported receiving many EIPET offers since then.
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