Vinyls Italia (Porto Marghera / Italy), the former Ineos chlorine and PVC subsidiary, seems to be clutching at the very last straw in a desperate bid for survival following the collapse of the deal with Qatar-based building contractor Ramco Trading & Contracting (Dohar; www.ramcoeng.com) – see Plasteurope.com of 25.02.2010 for the most recent coverage. A spokesman for the Italian Ministry of Economic Development in Rome confirmed that negotiations had been made more difficult by the tough economic situation, but that everything possible would be done to save the company and its jobs. Shortly afterwards the special administrators of Vinyls Italia were instructed to initiate an international tender process.

The Italian media attributes Ramco’s withdrawal to a dispute with state-controlled oil and gas producer Eni (Rome / Italy; www.eni.it) about the purchase price. A new report on the company’s asset value will now be prepared. Meanwhile, the unions have revived their faith in rumours that the government could resort to “plan B” which allegedly sees a stronger commitment by Eni as a final chance for the sector and the jobs currently at stake.