ITALY
Vinyls Italia may seek “extraordinary administration” / Minister meets with ENI in yet another crisis session
Vinyls Italia (Porto Marghera / Italy) is said to have appealed to the Court of Venice to be placed under extraordinary administration, as officials of Italian industry and government once again try to resolve long smouldering problems at the PVC producer – see Plasteurope.com of 07.05.2009. A decision is expected this week.

According to Italian press reports, Claudio Scajola, the minister for economic development, and Paolo Scaroni, CEO of energy and petrochemicals giant ENI, met on 21 May to discuss the future of the country’s petrochemicals sector in general and the situation of the vinyls industry in particular. The two are said to have agreed that fresh investment in Italy’s crisis-ridden chemical industry is necessary to maintain the country’s traditional status as a major producer and preserve jobs.

Resolution of the conflict between ENI and past and present ownership of Vinyls Italia, formerly part of the Ineos group (Lyndhurst / UK; www.ineos.com) will have to be key to any action taken. The PVC producer filed for insolvency on 29 April 2009 after the energy group stopped supplies of dichloroethane to the company’s plants.
26.05.2009 Plasteurope.com [213501]
Published on 26.05.2009
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