And I mentioned Eni In a statement Thursday, it aims through this plan to reduce dependence Versalis Chemical Company On production Chemicals core, which is facing a continuing structural decline in Europe.
Eni added that Versalis It intends to gradually stop operating crushing plants in Puglia and Sicily and a polyethylene plant in Sicily, which confirms what Bloomberg News reported earlier.
Bloomberg reported that this plan comes at a time when… European chemical industry A vital moment in light of rising prices Energy The intensification of competition from factories in Asia.
Earlier this year, Saudi petrochemical giant SABIC stopped operating its naphtha crushing plant in the Netherlands. It also closed ExxonMobil Its American chemicals activities in France.
Last May, LyondellBasell announced a review of the position of some of its assets in Europe.
It is noteworthy that Versalis, which achieved its last profits in 2017, recorded losses amounting to 220 million euros during the second quarter of this year.
Eni said that restructuring and directing the company will allow it to achieve a balance between expenses and revenues during the next year and then achieve profits in the following year.
Eni added that the reform plan will support the positive impact on employment at the end of the process, noting that the company’s investments in chemicals have resulted in economic losses approaching 7 billion euros over the past 15 years, including 3 billion euros during the past five years.