Our PET business is part of our core polyester value chain. The production and sale of PET is primarily used as a raw material in the manufacture of bottles, sheets, films, fibers, filaments and other specialty products. Polyethylene Terephthalate (PET) is Thermoplastic polyester widely used for production of beverage bottles. It is also used for flexible packaging film due to its high clarity, low permeability and excellent printability. Biaxially oriented PET film (often known by one of its trade names, "Mylar") can be aluminized by evaporating a thin film of metal onto it to reduce its permeability and to make it reflective and opaque (MPET). These properties are useful in many applications, including flexible food packaging and thermal insulation such as "space blankets". Because of its high mechanical strength, PET film is often used in tape applications, such as the carrier for magnetic tape or backing fo r pressure sensitive adhesive tapes.