After refinancing its debt with the banks and redefining its core business by focusing on the plastic packaging sector, LSB is now facing a growth strategy for 2012 to allow its consolidation in this field.
The board of directors of LSB has designed a strategic plan aimed at boosting the Plastic Packaging Division (APPE) that includes the expansion into new markets and the focus on new materials and products.
The creation of a new company that integrates all the chemical businesses of the group (PTA, Glycol, PET, chemical PET Recycling and Technology) and that allows the admittance of an industrial partner supporting and complementing the growth and investment strategy is also considered to be essential.
Notwithstanding this, the credit shortage in the financial markets poses difficulties to carrying out the necessary investments to face the foreseen growth, the presence in new markets and the launch of new products, this is why the board of directors of La Seda de Barcelona has agreed to propose to the shareholders of the Company a capital increase of €40m.
The capital increase will be carried out with a preemptive right for all current shareholders. With this capital injection and the new growth strategy, LSB sets out to improve its competitive position, by offering better products and services to its customers, while creating a higher value for the company’s shareholders.
Source: LSB
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