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Ineos Sued for €200 Million by Vinyls Italia Buyer
11:44 AM MDT | July 28, 2010 | Peter Mapleston
The Italian businessman who bought the former Ineos Vinyls Italia in early 2009 is suing the company's seller, Ineos, for €200 million for misrepresentation. Fiorenzo Sartor acquired Ineos Vinyls Italia at the end of March 2009 and renamed it Vinyls Italia (Porto Marghera, Italy). He declared the company insolvent two months later and applied for special administration, which is still ongoing. The company, which makes polyvinyl chloride and vinyl chloride monomer, has produced no material since June 2009 and is on the verge of permanent shutdown, sources...
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