Pretium Packaging Expands PET Blow Molding
Based in Chesterfield, Mo., Pretium Packaging has invested $5 million in PET stretch-blow molding equipment and infrastructure at six of its 19 manufacturing locations in the U.S. and Canada. Said Kris Nielsen, sr. v.p. of operations, “We’re adding capacity, stronger redundancy and volume-balancing capabilities, as well as support for the latest PET product innovations, like our hot-fill containers. We’re strategically placing new PET machines in the West, Central and East regions of the U.S.” The new equipment will give Pretium additional capacity for 100 million bottles/yr in sizes from 6.5 oz to 11.6 liters. The project is due for completion by October.
Pretium is adding PET stretch-blow capacity at six plants in North America.
Pretium produces over 2 billion PET and HDPE containers annually, as well as closures, for food, specialty beverages, household and industrial chemicals, sports nutrition and wellness, beauty and personal care, medical and consumer health products.
An upward pricing trajectory could be short lived. PVC and PET prices are flat or lower.
But what’s going up could go down again soon.
Key drivers for the trajectory of resin prices include supply outpacing demand, lower feedstock costs, and uncertainty about coronavirus effects.