01 June 2011 17:44 [Source: ICIS news]
LONDON (ICIS)--Troubled polyvinyl chloride (PVC) and vinyl chloride monomer (VCM) producer Vinyls Italia could be broken up for sale, as potential investors have only made bids for parts of the company and its mothballed plants, the Italian Ministry of Economic Development said on Wednesday.
Gita’s failed bid had led the ministry to reconsider previously rejected bids from Croatian petrochemical producer Dioki Group and another from a consortium led by Italian polyolefins distributor Industrie Generali.
However, the ministry said it would probably not be possible to reach acceptable deals with these two bidders, or other potential investors, unless Vinyls Italia’s assets can be sold in parts.
Last October, Dioki bid for two units of the company: the ?xml:namespace>
Vinyls Italia also has operations at Porto Marghera, near Venice, which has PVC and VCM units with capacities of 185,000 tonnes/year and 250,000 tonnes/year, respectively.
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