Abstract: Polyethylene terephthalate (PET) produced by direct esterification of a mixture containing ethylene glycol and terephthalic acid in a mole ratio ranging from about 1.05 to about 1.35 dl/g, with at least about 325 parts of an antimony catalyst per million parts of polymer product, can be treated to reduce its acetaldehyde content and acetaldehyde generation rate and increase molecular weight to the levels required for the production of beverage bottles. After heat treatment to produce a crystallinity of at least about 10 percent, the PET can be used in molding after substantially conventional pre-drying and drying steps in air at the molding facility. The invention thus allows beverage bottle grade PET to be produced and prepared for molding without the conventional step of solid state polymerization or stabilization, saving energy, time, production costs and capital investment.