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Ineos Reviews 'Non-Essential Capital Expenditure,' Responds to Speculation over Debt

5:03 AM MST | November 5, 2008 | Natasha Alperowicz

Ineos says that "in view of the current economic climate and in line with many other companies," it is prioritizing cash generation and reviewing its non-essential capital expenditure program. The company declined to be more specific but said that this "is a general focus across the company." Ineos also responded to recent "media speculation" and confirmed that it has never breached any of its banking covenants. The company "has significantly reduced its borrowings over the last three years and has no significant debt maturing...

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