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WILTON chemical company is building a £60m manufacturing plant to meet growing European demand for plastics packaging.
Lotte Chemical UK is expanding its British operation with a Polyethylene Terephthalate (PET) plant, safeguarding 170 existing jobs and creating more than 50 new roles.
The project was also boosted by a £6.7m grant from the Regional Growth Fund.
The world-scale 200,000 tonne capacity plant will more than double the Wilton site’s current yearly PET output in addition to 500,000 tonnes of pure terephthalic acid PTA, the first-stage chemical that goes into a range of different plastics.
Pellets manufactured at the new plant will be used to make soft drink bottles, food trays and containers for products from shampoo and face cream to honey.
Chief executive of Lotte Chemical UK, Mark Kenrick, said: “This plant uses the latest technology and its cost base is class-leading.
“Lotte Chemical is expanding globally, and this project is part of that growth.
“Demand for PET has been steadily rising over the last 20 years, the European market needs more than three million tonnes of PET a year and globally demand is growing at about 5% a year.
“PET works well as a replacement for glass and tin, it has glass-like characteristics, yet it’s safer and much lighter than other products.
“This allows people to reduce their packaging and their carbon footprint.
“From a sustainability point of view, it’s fully recyclable. We make a recycled blend of our product and we’re looking to use some recycled raw materials.”
Parent company Lotte Chemical, a major Korean-based conglomerate, plans to be in the top 10 of all Asian based global companies by 2018 and is also expanding into other sectors, including an acquisition of chocolate brand Guylian by its Lotte Confectionery division.
The Wilton plants were rescued by the Korean firm in 2010 after the previous owner, the Spanish owned company Artenius UK, went into administration
Lotte Chemical UK is expanding its British operation with a Polyethylene Terephthalate (PET) plant, safeguarding 170 existing jobs and creating more than 50 new roles.
The project was also boosted by a £6.7m grant from the Regional Growth Fund.
The world-scale 200,000 tonne capacity plant will more than double the Wilton site’s current yearly PET output in addition to 500,000 tonnes of pure terephthalic acid PTA, the first-stage chemical that goes into a range of different plastics.
Pellets manufactured at the new plant will be used to make soft drink bottles, food trays and containers for products from shampoo and face cream to honey.
Chief executive of Lotte Chemical UK, Mark Kenrick, said: “This plant uses the latest technology and its cost base is class-leading.
“Lotte Chemical is expanding globally, and this project is part of that growth.
“Demand for PET has been steadily rising over the last 20 years, the European market needs more than three million tonnes of PET a year and globally demand is growing at about 5% a year.
“PET works well as a replacement for glass and tin, it has glass-like characteristics, yet it’s safer and much lighter than other products.
“This allows people to reduce their packaging and their carbon footprint.
“From a sustainability point of view, it’s fully recyclable. We make a recycled blend of our product and we’re looking to use some recycled raw materials.”
Parent company Lotte Chemical, a major Korean-based conglomerate, plans to be in the top 10 of all Asian based global companies by 2018 and is also expanding into other sectors, including an acquisition of chocolate brand Guylian by its Lotte Confectionery division.
The Wilton plants were rescued by the Korean firm in 2010 after the previous owner, the Spanish owned company Artenius UK, went into administration