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Polimeri Europa Narrows Losses on Increased Sales Volumes

5:20 AM MDT | July 28, 2010 | Natasha Alperowicz

Polimeri Europa (Milan), an ENI subsidiary, has narrowed its net loss in the second quarter of this year by close to 80% to €23 million ($30 million), compared to €114 million in the second quarter of 2009. Improvements were driven by better operating performance, up €135 million and €187 million in the second quarter and the first half of 2010, respectively, due to increased sales volumes, which went up by 11% and 17% respectively, and cost efficiencies. Profitability continued to be negatively impacted by high petrochemical feedstock costs...

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