Ambitious recovery plan for Italian producer/ Work is on to reduce commodity dependency

摘要

As Versalis (Milan / Italy; www.polimerieuropa.com), previously Polimeri Europa, prepares a return to the stock markets, it is still battling overexposure to commodity products, which currently account for about 70% of its EUR 6.4 bn sales, CEO Daniele Ferrari has told analysts. The company has been operating with huge losses due to problems at its sites in Priolo, Porto Torres and Porto Marghera, Italy, but plans to break even by fiscal 2017-2018. This would represent a turnaround of nearly EUR SOOm against the last reporting period. Ferrari plans to progressively reduce Versalis' production capacity for base chemicals while raising the share of specialities and green chemistry. Older polyethylene plants are to be closed or converted.